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The Bush administration reportedly buried a report commissioned by the US Treasury which predicted a budget deficit of over $44,000bn and called for tax rises.
In a front-page story Britain's Financial Times said the report, which advocated tax rises, was left out of February's budget report as the White House lobbied for $350bn in tax cuts.
Those cuts, the opposite of what was reportedly recommended in the Treasury study, were signed into law by President George W Bush on Wednesday.
The newspaper said the study was "the most comprehensive assessment of how the US government is at risk of being overwhelmed by the 'baby boom' generation's future healthcare and retirement costs"...
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