CBO says Bush budget would produce $2.75 trillion deficits over decade

[Judi Lynn]

CBO says Bush budget would produce $2.75 trillion deficits over decade

ALAN FRAM, Associated Press Writer
Friday, February 27, 2004



(02-27) 15:15 PST WASHINGTON (AP) --

President Bush's budget would produce deficits totaling $2.75 trillion over the next decade, the Congressional Budget Office projected Friday in the first authoritative look at the plan's longer-range implications.

The nonpartisan budget office said Bush's tax and spending plans would, if enacted, add $737 billion to shortfalls otherwise expected over the period. Its massive numbers are sure to factor into this year's presidential and congressional campaigns.

Just two years ago, the budget office and Bush envisioned surpluses totaling $5.6 trillion for the decade ending in 2011. The projections released Friday cover a slightly different period, the 10 years running through 2014, but the contrast is striking.

On Feb. 2, Bush sent lawmakers a 2005 budget that would spend $2.4 trillion next year, but it projected outward for only five years. The White House argues that longer-range forecasts are guesswork, but Democrats say the administration wants to hide future deficits that will career out of control as baby boomers begin to retire.
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http://sfgate.com/cgi-bin/article.cgi?f=/news/a/2004/02/27/national1545EST0686.DTL

[pippin]

1. The US is now a banana republic

heading toward third world status. Bankrupt and bereft. Don't you just love it? Thank you George W. Bush.

[rfkrocks]

2. The roof! The roof is on fire!

Bush's next inaugural address,
My fellow corporate profiteers,lemmings and stooges. I must confess that there is no money left in the us treasury and your real estate is worth nothing and your jobs will be outsourced completely by the end of my term. We will of course have to re institute the draft due to my pending invasion plans of a variety of countries which i will keep secret until we get the right intelligence back from the CIA. Of course there is no social security benefits left but now that we have re designated fast food jobs as manufacturing jobs we have great confidence in the largest growth of manufacturing jobs in this country ever. But now to the three most important parts of my agenda... a constitutional amendment banning gay marriage, the ban of steroids in pro sports and the removal of archival footage of Janet Jackson's breast from all super bowl videotapes.

[Paulie]

3. That's a $7 Trillion swing

WOW, most impressive. Guess georgie has something to run on afterall! Look Ma, I can tank a budget faster than Superman can fly!

[indepat]

4. The good news is wealthy patrons will be much further enriched

and surely a few crumbs will trickle down.

[saigon68]

5. Wealthy beyond

All belief