White House projects bigger deficits, bigger debt

White House officials project lingering high unemployment in the short term and a massive 10-year federal deficit of $9 trillion that feeds a ballooning national debt. White House budget director Peter Orszag and economic adviser Christina Romer cited a worse-than-expected economic crisis for the dire fiscal landscape. The new projections were released Tuesday morning. In May, the administration had predicted a $7 trillion deficit for 2010-2019. In documents and in remarks, the White House officials said the economy this year will contract by 2.8 percent, more than twice what they had predicted earlier this year.