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U.S. President Barack Obama salutes as he steps off Marine One as he returns to the White House in Washington May 17, 2013. Obama was returning from a day trip to Baltimore, Maryland. REUTERS/Joshua Roberts (UNITED STATES - Tags: POLITICS TRANSPORT)

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CBO: Obama budget cuts deficit $1.1T over decade

WASHINGTON -- Near-term U.S. deficits under President Barack Obama's 2014 budget plan would be higher than those forecast by the Congressional Budget Office this week but $1.1 trillion lower than what it estimates over the coming decade, CBO said on Friday.. After four straight years of $1 trillion-plus

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