The Nation - News from Feb. 4, 1988

The Congressional Budget Office is projecting that the deficit for the 1989 fiscal year will be $176 billion, congressional budget aides said, well above the Reagan Administration’s estimate. CBO, which conducts research on the budget and the economy for Congress, also estimates the deficit for fiscal 1988 will be $157 billion, said the aides, who asked not to be identified. CBO officials are scheduled to release their deficit estimates today at a hearing of the Senate Budget Committee. One aide said the numbers remained subject to minor changes before being disclosed773866607of Management and Budget, obtained last month, showed the Administration’s proposed fiscal 1989 budget would have a deficit of $136 billion, the target set under the Gramm-Rudman budget-balancing law.