WASHINGTON -- The recent news that the federal deficit could hit almost $350 billion next year is only part of the shocking story. The Congressional Budget Office and private analysts say the even worse news is that there may be no relief in sight from yearly deficits near that colossal peak.

The CBO, in a forecast due to be released this Thursday, is now projecting that the deficit will linger between $250 billion and $300 billion for at least two more years, sources there said. And they see no end in the foreseeable future for a deficit stuck in the triple-digit range it has inhabited since the early 1980s.

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