Is the budget deficit
going to be the other shoe that drops on the Bush administration? In the OMB's mid-session review [pdf]
, it admits the federal budget deficit would balloon to a record $455 billion this fiscal year after absorbing immediate costs from the war in Iraq, and then climb $20 billion higher in 2004. That's a 50% increase since the administration's last forecast five months ago. At least a few economists
think even that number is underestimated. To top it off, the consequences of an increasingly large deficit and accompanying tax cuts are being passed on to the states.
How's that for a neat twist on federalism?
posted by monju_bosatsu
on Jul 15, 2003 -
Bush Cited Non-Existent eport
There was only one problem with President George W. Bush's claim
Thursday that the nation's top economists forecast substantial economic growth if Congress passed the president's tax cut: The forecast with that conclusion doesn't exist.
posted by orange swan
on Feb 24, 2003 -
"Mr Bush, the World Doesn't Want to Be American"
"... it is time for America's electorate to be told the blunt truth: that the present situation of the United States, with a part of its population able to enjoy a life of extraordinary comfort and privilege, is not tenable as long as an enormous portion of the world lives in abject poverty, degradation and backwardness."
posted by lia
on Dec 31, 2000 -