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Working Together to Protect Our Children's Future.
The Office of Management and Budget (OMB) released today the Fiscal Year (FY) 2017 Mid-Session Review (MSR), which updates both OMB’s budget baseline and the President’s budget for new data and assumptions. OMB is currently projecting that the deficit by the end of this fiscal year will be $600 billion, which is $66 billion larger than the Congressional Budget Office (CBO) estimated in March and $162 billion larger than the FY 2015 deficit.