CBO Projects $337 Billion Deficit in 2006

[kpete]

CBO Projects $337 Billion Deficit in 2006
By ANDREW TAYLOR,
Associated Press Writer
Thu Jan 26, 9:20 AM ET

WASHINGTON - The federal budget deficit will reach at least $337 billion for the current year, according to the Congressional Budget Office, and the deficit is likely to go higher because of tax cuts and new additional spending for hurricane relief and the war in

The deficit estimated by the nonpartisan CBO was lower than predicted by the White House budget office, which two weeks ago said the 2006 deficit would top $400 billion because of emergency aid for victims of hurricanes Katrina and Rita.

CBO's estimate was to be officially released at 10 a.m., but the overall figures were provided to The Associated Press by a congressional aide on condition of anonymity.

Deficits for 2006-10 will total $1.3 trillion, CBO predicts, but such "baseline" figures may prove inaccurate because of the rules the scorekeeping agency has to follow when producing its estimates. For instance, the agency does not account for upcoming Bush administration requests for the war in Iraq or additional hurricane relief, which promise to add tens of billions to the 2006 deficit.

http://news.yahoo.com/s/ap/20060126/ap_on_go_co/budget_deficit_1

[shoelace414]

1. ...

For instance, the agency does not account for upcoming Bush administration requests for the war in Iraq or additional hurricane relief,

[RobertSeattle]

2. CBO Projects $337 Billion + Interest in extra taxes on future generations

Tax cuts during times of deficits aren't tax cuts at all - they are tax deferments from one irresponsible generation to one not even born.

[Telly Savalas]

3. Damn.

Well put! And it'd almost fit on a bumpersticker.

[SammyWinstonJack]

4. And here I thought that Repugs cared about the unborn?

:rofl: One more GOP myth shattered.