Analysts Expect Smaller Budget Deficit

[Nambe]

Associated Press

Congress' top budget analysts still expect the 2004 federal deficit to set a record, though a smaller one than they and the White House anticipated earlier in this election year.

The nonpartisan Congressional Budget Office (news - web sites) was releasing its annual summertime deficit forecast on Tuesday, eight weeks before the presidential and congressional elections. In a preliminary report in early August, the budget office said it expected this year's shortfall to hit $422 billion — well above last year's $375 billion gap, the largest ever in dollar terms.

When adjusted to erase the effects of inflation, the 2004 projected deficit is expected to exceed every annual shortfall since World War II. ..


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[truthisfreedom]

1. and apparently 50% of the country has their heads in the sand.

i can almost hear the muffled collective "what, me worry?"

[The Zanti Regent]

8. ...but Pat Robertson tells my sister that Jesus is coming next week!

She tells me she doesn't care about the budget deficit because Jesus will come and rapture her next week.

Trouble is she's been saying the same bullshit for the past 20 years...

[jayctravis]

2. AWRIGHT!!!!

The deficit is only 422 billion! Woohoo! Four more years!

[FloridaPat]

3. Krugman did an article on this. Seems the White House & Co

had a very high estimate - around $490 billion. Everyone else was confused and said $450 billion. So now that it's lower, Bush is saying that proves the economy is getting better.

[dbt]

4. And that would be "the soft bigotry of low expectations,"

wouldn't it?

:evilgrin:
dbt

[Zorra]

5. But will be readjusted to a much higher figure after the election.

[luaneryder]

6. Oh, I'm sure this is supposed to be good news

It's in there somewhere so Rove can incorporate it into a talking point.

[xchrom]

7. the biggest ever deficit -- but it's better?!?!

i'm shaking my head in wonder.

[underpants]

9. Kick

I duped it sorry.