Budget chief says deficits "unacceptably high"

Reuters News
Posted: Mar 21, 2011 3:51 PM
Budget chief says deficits "unacceptably high"

WASHINGTON (Reuters) - White House budget director Jack Lew said on Friday that newly released projections that the budget deficit will total $1.4 trillion in the current fiscal year showed the need to tame "unacceptably high" deficits.

Lew wrote in a blog post that if the United States stays "on our current course and do nothing, the fiscal situation will hurt our recovery and hamstring future growth."

(Writing by Caren Bohan; Editing by Philip Barbara)