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January 26, 2005
White House expects $427 billion deficit
The White House announced on Tuesday that the federal budget deficit was expected to rise this year to $427 billion, a figure that includes a new request from President Bush to help pay for the war in Iraq.
The White House's announcement makes it the fourth straight year in which the budget deficit was expected to grow; as recently as last July the administration had predicted that the deficit, which was $412 billion last year, would fall this year to $331 billion.
So much for cutting the deficit in half by 2010. However, remember that the White House has entertained the option of making it seem as if they've reduced the deficit when the actual numbers come in and they happen to be lower than the projections. In other words, if the actual deficit ends up being $327 billion they'll claim they reduced the deficit by $100 billion.
Posted By Bob Cesca | January 26, 2005 08:49 AM | DIGG ME!
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Comments
exactly. the spin ALREADY is that the bushites have REDUCED the $$ amount of the gap between last year's then-record deficit and this year's new record deficit. as in 'it could have been worse'. jayzuz
Posted by: going upriver at January 27, 2005 04:52 AM
Three phrases should be among the most common in our daily usage. They are: Thank you, I am grateful and I appreciate.
Posted by: extenders at December 20, 2005 06:19 PM
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