AP: White House to Project Record Deficit; Bush Screwed

[DrFunkenstein]

WASHINGTON - The White House will project soon that this year's federal deficit will exceed $420 billion, congressional aides said Tuesday, a record figure certain to ignite partisan warfare over President Bush's handling of the economy.

The annual summertime analysis is expected out this Friday, said several congressional aides speaking on condition of anonymity. That would be well after the frequently ignored legal deadline of July 15.

Some aides said they believed the projected shortfall would be close to $450 billion, though one said it would be about $420 billion. Either way, the White House was ready to emphasize that the figure is well below the $521 billion it projected for this year last February, and tie it to improvements in the economy.

Last year's deficit was $375 billion, the worst ever in dollar terms. The White House has said the numbers are manageable because they only equal about 4 percent the size of the U.S. economy — well below the 6 percent ratio reached under President Reagan.

[jimshoes]

1. Say goodnight george

n/t

[lapfog_1]

2. No... Cheney said that Reagan proved that deficits don't matter!

I mean, if Cheney said it... it MUST be true...

(OK, complete sarcasm here)

[aquart]

4. Hope they make it their campaign slogan.

Or we could do it for them.

[unblock]

3. but at least it's well below $521B projected -- sounds like mrs. unblock

i know i spent more than i ever did but there was some REALLY expensive stuff i DIDN'T buy!