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 WASHINGTON (AP) - President Bush on Wednesday reported modest improvement in the federal deficit for this year though the longer-term fiscal picture has deteriorated slightly.
Bush and Democrats controlling Congress had widely different interpretations of the White House's annual midyear budget review, with the president hailing the figures as a validation of his tax policies.
Democrats said the news was not so good and the numbers show there's no way Bush's policies would balance the budget in five years as he has promised.
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