White House Projects Record $445B Deficit

[papau]

http://www.guardian.co.uk/uslatest/story/0,1282,-4368479,00.html

White House Projects Record $445B Deficit

Friday July 30, 2004 5:46 PM


By ALAN FRAM

Associated Press Writer

WASHINGTON (AP) - The White House projected Friday that this year's deficit will hit a record $445 billion, further fueling a campaign-season dispute over President Bush's handling of the economy.

The figure easily surpassed last year's $375 billion, making it the largest-ever in dollar terms. That gave ammunition to Democrats who say Bush's tax cuts and failure to prevent a loss of jobs during his term have worsened the outlook for the budget and the economy.<snip>

The White House also lowered its deficit projections for each of the next five years.

It now expects the 2005 shortfall to be $331 billion, easing to $229 billion by 2009. That was $33 billion less than it projected in February for 2005, and $8 billion less than it envisioned then for 2009. <snip>

[POed_Ex_Repub]

1. The funny thing about this is..

I already saw the Freeper response to this on the Yahoo boards. One of them was saying "Well, it was projected to be 521 billion, it's going down!"... Wow ONLY a 445 billion deficit, what a thing to be proud of.

If they set the bar any lower for this president it would be south of hell.

[The_Casual_Observer]

2. Are these are the kind of "Results" that bush is talking about?

[burythehatchet]

3. If the white house said $445 billion

add $200 billion to get the real number they expect

[rfkrocks]

4. James Madison words haunt us

that war is the parent of armies and debt and taxes-Crazy Shrub cut taxes and made sure that the USA shoulders the whole Iraqis debacle-the economy is at best highly erratic but more likely on the bad side-the debt will be the fall of the US-it goes against the American values which are as old as Poor Richards Almanac-wars more likely undue great countries than benefit them-Britain paying for the French and Indian war and losing America-Louis the 16th paying with his head for Louis the 14ths endless wars-Athens and its republic lost in the meandering Pel.War-Germany Britain and France losing all in WW1-our founders knew that lesson but unfortunately Shrub doesn't read history-its boring

[unblock]

5. so we added about $1500 of additional debt for each man, woman, and child

on average, each family of 4 would have to cough up about $6,000 just to undo the fiscal damage from this one year alone.

how much did YOU get from your tax cut?