Obama admin: Deficits are now next president's problem

With federal budget deficits on the rise again, the White House Wednesday officially kicked the problem down the road to the next president.

Asked about Congressional Budget Office projections that the federal deficit will spike 33 percent this year, White House press secretary Josh Earnest cited reasons including an aging population and Republican-sponsored tax cuts.

Then he added, “There’s certainly a lot money that can be saved, and this will be a challenge that the next president and the next Congress will have to do.”

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