WP: Budget Deficit May Surpass $450 Billion

[kskiska]

War Costs, Tax Cut, Slow Economy Are Key Factors

Tuesday, July 15, 2003; Page A01

War, tax cuts and a third year of a flailing economy may push this year's budget deficit past $450 billion, according to congressional sources familiar with new White House budget forecasts. That would be 50 percent higher than the Bush administration forecast five months ago.

The deficit projection due out today is nearly $50 billion more than economists anticipated just last week, and it underscores the continuing deterioration of the government's fortunes since 2000, when the Treasury posted a $236 billion surplus. That represents a fiscal reversal exceeding $680 billion.

"It's shock and awe," said a senior Republican Senate aide.

The 2003 forecast -- part of the White House's annual midterm budget update -- easily tops the previous record $290 billion deficit of 1992, even when adjusted for inflation. The red ink now exceeds the entire military budget. Measured against the size of the economy, however, the deficit still has not reached the levels of the Reagan era. It also may prove slightly inflated, since it includes some White House policy proposals that may not be enacted this year.

more…
http://www.washingtonpost.com/wp-dyn/articles/A56224-2003Jul14.html?nav=hptop_tb

[osaMABUSh]

1. How can this ahole possibly get re-selected!?

* has done nothing in 2 1/2 years. The country is in horrible shape, yet the experts will tell us he favored for reselection?!

[LoZoccolo]

2. It's a protection thing...

...people think Republicans are good with national security.

We need people to know that Iraq II actually worsened national security. Did they ever find out if they recovered all the radioactive stuff that was looted from the nuke plants there? Or is it in the hands of terrorists possibly? Does messing up our diplomatic ties with other countries hurt us? Especially since a lot of al Quada members have been found in Pakistan? And they were stationed in Germany for a while? Was this plan of attacking Iraq that was encouraged by PNAC since 1998 a wise thing to do after 9/11 as a result?

[lkinsale]

4. They won't let the IAEA in long enough to check

Iraqis grapple with post-war radioactivity

[leftyandproud]

3. as that evil Sith dude said at the end of SW Episode II...

"Everything is going according to plan."


The dark side has the force...We must take it back.

[fshrink]

5. I guess that's "darn good" too, right?!

nt