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Record $422-Billion Deficit Projected

The federal budget deficit will hit a record $422 billion this year, according to new projections from the Congressional Budget Office. The CBO also predicts $2.3 trillion in new debt will be run up by 2014. Hear NPR's Steve Inskeep and Robert Bixby of the Concord Coalition.

Copyright 2004 NPR

Steve Inskeep is a host of NPR's Morning Edition, as well as NPR's morning news podcast Up First.