The White House projects a $1.21T deficit for its FY12 budget in its mid-session review,...

|By:, SA News Editor

The White House projects a $1.21T deficit for its FY12 budget in its mid-session review, slightly less than then $1.33T projected in February. It's also projecting a cumulative deficit of $3.44T (3.9% of expected GDP) from FY13-FY17, and forecasts 2.3% GDP growth in FY12 and 2.7% growth in FY13, below prior forecasts of 2.7% and 3%.