The Nation - News from Sept. 5, 1986
The fiscal 1987 deficit will be at least $4 billion higher than the government’s estimate of $163.4 billion released last month, the General Accounting Office told a House committee. The investigative agency said that the Administration was underestimating spending by about $11 billion, and that the economy may be weaker than previously estimated. To meet the $144-billion deficit limit of the Gramm-Rudman law, “further budget reductions or revenue increases will likely be required” beyond those already planned, the GAO said.
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