Source: U.S. deficit to be $1.58 trillion this year

WASHINGTON A White House official says the deficit will still be more than three times what it was last year. The official spoke on the condition of anonymity on Wednesday because the report is not set to be released until next Tuesday.

The official says the federal deficit this year will total $1.58 trillion. The report for the budget yet that ends on Sept. 30 predicts the government will spend $3.653 trillion this year.

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