Everyone can relax: Deficit to ONLY be $401 Billion

[MonstaThrilla]

Whew, and I thought it would be some huge amount!!!

CBO Projects $401 Billion Deficit for the Year

WASHINGTON - This year's federal deficit will probably hit $401 billion, the nonpartisan Congressional Budget Office projected Friday as new data continued to indicate that the red ink would surge to its highest level ever.

The number is $54 billion less than the shortfall that President Bush's budget office predicted last month. The congressional analysts said most of the difference ? $40 billion ? was because they expect lower spending than the White House calculated for defense and other programs.

The CBO projection, if borne out at year's end, raises the possibility that the administration could claim credit for making some progress with a deficit smaller than it projected.

Even so, the CBO estimate underscored that Democrats are likely to continue using the deficit as a political issue against Bush and congressional Republicans.

They say it exemplifies Bush's mismanagement of the budget and the economy, while Republicans blame the shortfall on the weak economy and the costs of war and terrorism.

 

[BaliBabyDoc]

Someone in Congress is going to cut spending on defense . . . during an election year . . . ?

 

[Ferocious]

Many modern republicans LOVE to spend.

It's part of their hypocritical nature.

 

[tnitsuj]

As long it is on weapons to be used on non-Western nations it is okay, not wasted on things like helping shiftless Negros.

 

[JellyBaby]

raises the possibility that the administration could claim credit for making some progress with a deficit smaller than it projected.

LOL this is just getting ridiculous.

 

[rchiu]

The number is $54 billion less than the shortfall that President Bush's budget office predicted last month. The congressional analysts said most of the difference $40 billion was because they expect lower spending than the White House calculated for defense and other programs.

Noooo....how is Bush gonna pass those money to his buddies behind the closed door now???

 

[BOBDN]

Originally posted by: rchiu

The number is $54 billion less than the shortfall that President Bush's budget office predicted last month. The congressional analysts said most of the difference $40 billion was because they expect lower spending than the White House calculated for defense and other programs.

Noooo....how is Bush gonna pass those money to his buddies behind the closed door now???

Less on defence while waging war in multiple theaters. God bless our troops.

Un-select Bush.

 

[charrison]

Funny..not long a ago the defecit was too big, all the sudden it is too small.

This really is a funny place.

 

[Dari]

Originally posted by: tnitsuj
As long it is on weapons to be used on non-Western nations it is okay, not wasted on things like helping shiftless Negros.

WTF?

 

[BOBDN]

Originally posted by: charrison
Funny..not long a ago the defecit was too big, all the sudden it is too small.

This really is a funny place.

Who EVER said $401 BILLION is small????????????

The turnaround from surplus to deficit under Bush is the largest in US history!

That alone should be enough to dump him. Add the lies to invade Iraq. What is the reason anyone would support this disaster?

 

[MonstaThrilla]

Originally posted by: charrison
Funny..not long a ago the defecit was too big, all the sudden it is too small.

This really is a funny place.

Its called sarcasm.

 

[sandorski]

Woot! Guess what's coming next spring?

Give up? TAX BREAK!!!! All this extra money is burning a hole in Bush's pocket!!