- Jul 28, 2006
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Back in May I made a thread pointing out that we were on track to end up with a $150 to $200 billion deficit for FY 2007. May thread
The naysayers on here universally attacked me and proclaimed I was wrong. The slowing economy, the housing crash, the alignment of the moon and the earth would all cause the deficit to go UP.
My response to the naysayers was to wait until the July Mid-year budget review from the government so we could get a better picture, and here is the date from that report.
The current estimated Federal budget deficit for FY 2007 is $205 billion an 18% decline from last year. The ?official? estimate is $39 billion lower than the February estimate. White House lowers deficit forecast
And the deficit will be only 1.5% of our GDP well below the 40 year average and the average of the 1990s. Mid-Session Budget Review PDF
As I said back in May, we are going in the right direction when it comes to the budget deficit.
The naysayers on here universally attacked me and proclaimed I was wrong. The slowing economy, the housing crash, the alignment of the moon and the earth would all cause the deficit to go UP.
My response to the naysayers was to wait until the July Mid-year budget review from the government so we could get a better picture, and here is the date from that report.
The current estimated Federal budget deficit for FY 2007 is $205 billion an 18% decline from last year. The ?official? estimate is $39 billion lower than the February estimate. White House lowers deficit forecast
And the deficit will be only 1.5% of our GDP well below the 40 year average and the average of the 1990s. Mid-Session Budget Review PDF
As I said back in May, we are going in the right direction when it comes to the budget deficit.