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U.S. President Barack Obama speaks about the sequester after a meeting with congressional leaders at the White House in Washington on March 1, 2013. (REUTERS/Kevin Lamarque)

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CBO: Obama Budget Would Cut US Deficit By $1.1 Trillion Over Decade

Near-term U.S. deficits under President Barack Obama's latest budget plan would be higher than the most recent estimates by the Congressional Budget Office, but $1.1 trillion lower over the coming decade, CBO said on Friday.

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