Over the coming decade, the deficit would total $7 trillion but would move higher if lawmakers extend expiring business tax breaks and rescue doctors from cuts to their reimbursements under Medicare.The report provided fresh fodder for Washington's familiar battles over the budget, deficits and debt. Obama inherited an economy in crisis and first-ever deficits exceeding $1 trillion. The 2009 deficit, swelled by the costs of the Wall St. bailout, hit a record $1.4 trillion, while the deficits of 2010 and 2011 both registered $1.3 trillion.
CBO: Budget Deficit Estimated At $845B
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