Huffington Post: "Bush Leaves $482 Billion Budget Deficit To Next President"

[Amerigo Vespucci]

Bush Leaves $482 Billion Budget Deficit To Next President



WASHINGTON — The next president will inherit a record budget deficit of $482 billion, according to a new Bush administration estimate released Monday. The administration said the deficit was being driven to an all-time high by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession.

But the numbers could go even higher if the economy performs worse than the White House predicts.

The budget office predicts the economy will grow at a rate of 1.6 percent this year and will rebound to a 2.2 percent growth rate next year. That's a half percentage point more than predicted by the widely cited "blue chip" consensus of leading economists. The administration also sees inflation averaging 3.8 percent this year, but easing to 2.3 percent next year _ better than the 3.0 percent seen by the blue chip panel.

"The nation's economy has continued to expand and remains fundamentally resilient," said the budget office report.

A $482 billion deficit, however, would easily surpass the record deficit of $413 billion set in 2004.

http://www.huffingtonpost.com/2008/07/28/bush-leaving-next-preside_n_115335.html

[BOSSHOG]

1. And conservatives don't care

As cheney said deficits don't matter, reagan proved it. Must be nice to have ignorant trash as a base.

[tanyev]

2. "So long, suckers!"

"I'd especially like to thank all the chumps who voted for me in 2000 and 2004. How do you like me now? Heh, heh, heh."

[Eurobabe]

3. A good friend told me how * destroyed Texas as Gov.

he warned almost 7 years ago, that the same fate awaited the USA. Why should we be surprised, it's another bankrupt "company" in the long line of failures compliments of George W. Bush.

[dkofos]

4. He was shooting for $500 BILLION. He failed at that too.

[hfojvt]

5. Doesn't that make it easier for McCain?

If he promises to cut the budget deficit in half in his first term?

That was gonna be Bush's 'Big Accomplishment'. The man who entered office with a surplus and projected surplus, promised to cut the deficit in half by 2012. The master of low expectations strikes again.

[GreenTea]

6. Such BULLSHIT!

They are even counting cost of the war.

It's absolutely complete & total bullshit the deficit is much larger.....

The Bush administration has NEVER told the truth about anything, who would ever believe Bush's lying figures?

When Clinton took over for Pappy Bush, Clinton reported the deficit was much, much higher than what Pappy Bush administration reported and things were in far worse shape then what they led Americans to believe....Just as it is now.

This lying criminal Bush and his republican pals are even worse have raped our Treasury and stolen everything that wasn't tied down.

It's going to be one disgusting mess BushCo & the republicans are going to leave the next president, a one-termer no matter who it its....just as Pappy was a one-termer after inheriting Reagan's huge deficits and then pappy made it even worse.

I almost want to see republican McCain inherit this mess!