WASHINGTON — If you have high blood pressure, do not read this “Budget and Economic Outlook” from the Congressional Budget Office. The CBO regularly publishes its projections of what the federal budget deficit, debt, revenues and total spending will be in each fiscal year, and the following 10 years, if current laws governing taxes and spending remain unchanged. Its latest report, dated Feb. 11, 2021, is CBO’s economic assessment based on the laws in effect as of Jan. 12. “CBO projects a federal budget deficit of $2.3 trillion in 2021, nearly $900 billion less than the shortfall recorded in 2020. At 10.3 percent of gross domestic product (GDP), the deficit in 2021 would be the second largest
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