Congressional budget unit raises estimate of deficit
Washington — The Congressional Budget Office raised its 1983 government budget deficit estimate to $155 billion, a congressional source said.
The record projection compares with a July estimate of up to $151 billion by the nonpartisan forecasting group and signals possible bad economic news for the nation. Deficits causing heavy government borrowing are associated with high US interest rates, which only recently started to drop. The Reagan administration deficit estimate was $115 billion.