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Budget chief says deficits "unacceptably high"

WASHINGTON (Reuters) - White House budget director Jack Lew said on Friday that newly released projections that the budget deficit will total $1.4 trillion in the current fiscal year showed the need to tame "unacceptably high" deficits.

Lew wrote in a blog post that if the United States stays "on our current course and do nothing, the fiscal situation will hurt our recovery and hamstring future growth."

(Writing by Caren Bohan; Editing by Philip Barbara)

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