US DATA: Admin’s Mid-Session Budget Review ests FY11 at -$1.316T (8.8%
of GDP), $329b lower than in Feb. Deficits for each of the following 10
yrs are also projected to be lower than previously, with total reduction
of $1.45T over the pd, primarily resulting from the Budget Control Act.
Cites higher receipts and lower outlays as reasons budget improved.
FY12 est at -$956b or 6.1% of GDP. Real GDP est +2.8% in ’11. +3.2% ’12,
and +4.0% in ’13-14. More details are on MNI Main wire.
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