Lawmakers Debate Impact of Deficit Projections on Obama's Budget Plan

From Foxnews.com

President Obama is expected to receive bad news on the budget front on Friday as the nonpartisan Congressional Budget Office releases what sources say will be a grim assessment of his $3.6 trillion budget's affect on the nation's deficit, a $1 trillion increase above previous projections.

The staggering figures will include the recently-passed $787 billion stimulus bill and the $410 billion omnibus spending package, both adding directly to the deficit, and to members' concerns that Obama is trying to do too much, too fast.

Obama has projected an historically-high federal deficit of $1.75 trillion this year, but he expects to cut that down to $533 billion by 2013.

Sen. Kent Conrad, D-N.D., chairman of the Budget Committee, said earlier this week that spending will have to be reexamined as a result,