WASHINGTON -- The federal budget deficit in fiscal 1992, which begins Oct. 1, will soar to a record $362 billion, the Congressional Budget Office estimated yesterday.

If that estimate proves correct, the projected tide of red ink would far exceed the estimated $279 billion deficit for this year, which in turn would be substantially higher than last year's record deficit of $220 billion, the CBO said in its semiannual report on the federal budget.

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