WASHINGTON – President Barack Obama’s proposed budget predicts the national deficit will crest at a record-breaking $1.6 trillion in the current fiscal year, then start to recede in 2011 to just below $1.3 trillion.Still, the administration’s new budget proposal to be released Monday says deficits over the next decade will average 4.5 percent of the size of the economy, a level that economists say is dangerously high if not addressed.
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