The White House on Friday revised its fiscal 2023 U.S. budget deficit forecast to $1.543 trillion, a decrease of $26 billion from its March budget forecast, due largely to a major reduction in outlays after the Supreme Court struck down President Joe Biden's student loan forgiveness program in June. The Office of Management and Budget said that the student loan decision would reduce fiscal 2023 outlays by $259 billion, partly reversing an up-front charge of $430 billion taken by the Biden administration against fiscal 2022 results to cover the program's costs.
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