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Independent US Analysis: With Tax Cut, Government Deficits to Balloon

With the passage of deep tax cuts late last year, annual U.S. budget deficits are expected to balloon over the next decade, the nonpartisan Congressional Budget Office said Monday. The independent financial scorekeeper said that the long-term U.S. debt, now more than $21 trillion, could soar to more than $33 trillion by 2028, with increasing annual deficits jumping from $804 billion this year to $1.5 trillion in a decade. In the last fiscal year ending last September, the deficit was $665...

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