$110 Billion 'S3 Deficit Is Foreseen, Regan Says
The Reagan administration is predicting that the federal budget deficit for fiscal 1983 will reach or exceed a record $110 billion, Treasury Secretary Donald T. Regan said yesterday.</br></br>Interviewed on ÛÏPace the NationÛ! (CBS, WDVM), Regan disclosed that a revise^ midyear economic forecast due this week will estimate that the budget deficit for, fiscal: 1983, beginning Oct. 1, will be ÛÏsomewhere in the neighborhood of about $110 billion to $114 billion Û</br></br>The review assumes that Congress follows through on the budget reconciliation processÛÓof cutting spending and raising revenueÛÓalready in motion, he said.</br></br>Regan said the updated review will forecast that the deficit ÛÏstarts coming downÛ in later years, to over $90 billion in fiscal 1984, and around $70 billion in 1985.</br></br>Last February, the administration projected a fiscal 1983 budget defi cit of $98.6 billion, at least $11.4 billion below the estimate that Regan saidÛª will be produced this week.