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WASHINGTON (AP) - The federal budget deficit could go as low as $150 billion this year, congressional analysts said Friday.
The nonpartisan Congressional Budget Office had earlier seen a deficit for 2007 of about $200 billion, but continued strong revenue growth has led CBO to lower its estimates. CBO's estimate is necessarily imprecise since Congress and President Bush are wrestling over a $124 billion Iraq war funding bill.
CBO says the deficit might still reach $200 billion, though recent trends suggest a lower figure.
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