Deficit to Reach $9 Trillion

The White House will likely tack an additional $2 trillion onto its staggering 10-year budget-deficit estimate next week, Politico reports. Obama officials attributed the deficit’s startling increase to a worse-than-expected economy and plunging tax revenue. According to the new estimate, the deficit will reach $9 trillion in the next decade, up from the $7 trillion predicted earlier. The announcement will no doubt fuel Obama’s critics, who have attacked the president’s stimulus spending.