CNN/Reuters: CBO widens budget deficit view ($337 billion)

[DeepModem Mom]

CBO widens budget deficit view
Congressional Budget Office projects fiscal 2006 gap of $337 billion; doesn't include extra funds for war.
January 26, 2006


WASHINGTON (Reuters) - The U.S. budget deficit will hit $337 billion this year, the Congressional Budget Office said Thursday, according to a source familiar with the forecast.

The forecast does not include a potential $80 billion to $100 billion in additional funds the Bush administration might request to finance the wars in Iraq and Afghanistan, or more money that likely will be needed this year for Gulf Coast hurricane rebuilding....


http://money.cnn.com/2006/01/26/news/economy/cbo.reut/index.htm?cnn=yes

[hatrack]

1. Ah, so it's really closer to half a TRILLION dollars

We'll just take those pesky wars and hurricanes and make them DISAPPEAR!!!

[VegasWolf]

2. Keep running the printing presses Bush, you blithering idiot.

:sarcasm:

[Maggie_May]

3. I am going to be like this administration

that water bill I paid today I just not going to record that in my check book.

[Synnical]

4. C-Span ran this info on its ticker while Shrub

was holding his scary press conference today.

[snippy]

5. Bush's deficits are typical for a republican president since 1960.

Eisenhower was the last fiscally conservative republican president. Republicans like to talk about LBJ as a big spender, but every republican president since Johnson has been a bigger spender than LBJ was.

A comparison of government spending and the annual federal deficits accumulated since 1960 under republican presidents and under democratic presidents shows that republicans are bigger spenders and run much larger deficits than democrats. Bush has been about average as a big spender for republican presidents. If Bush was a democrat he would be the biggest spending democrat since WWII.

Of the slightly more than $4.2 trillion in accumulated deficits since 1960, more than $3.9 trillion has been accumulated under republican presidents while only about $250 billion has been accumulated under democratic presidents. And of the 15 times since 1960 that the annual deficit has exceeded 3% of GDP, every single time it was under a republican president. In that time the annual deficit has never exceeded 3% of GDP under a democratic president. http://www.whitehouse.gov/omb/budget/fy2006/sheets/hist01z3.xls (Note: The first year of a presidential term operates under the budget and appropriations of the last year of the preceeding presidential term, except for any supplemental appropriation bills passed during such first year. The summary above does not include any such supplemental bills.)