Budget Office Lower Deficit Prediction Friday May 7, 2004 8:46 PM By ALAN FRAM Associated Press Writer WASHINGTON (AP) - The Congressional Budget Office says it believes its March projection for a federal deficit of $477 billion this year was too high, though the red ink still seems all but certain to set a new record. The budget office, Congress' nonpartisan fiscal analyst, provided no new figure and won't formally update its estimate until summer. Nonetheless, the improved outlook paralleled Wall Street firms that have revised their forecasts for the better, marking the first time in several years that experts...