tsetsefly
01-23-2008, 08:34 AM
U.S. budget deficit to climb to $250 billion this year, according to the Congressional Budget Office, AP reports. More soon.
Spend , spend, stimulus package, spend, print, borrow, spend...:eek:
edit, article:
WASHINGTON (AP) -- The deficit for the current budget year will jump to about $250 billion, the Congressional Budget Office estimated Wednesday, citing the weakening economy. And that figure does not reflect at least $100 billion in red ink from an economic stimulus measure in the works.
"After three years of declining budget deficits, a slowing economy this year will contribute to an increase in the deficit," the CBO report said.
The figure greatly exceeds the $163 billion in red ink registered last year. Adding likely but still unapproved outlays for the wars in Iraq and Afghanistan brings its "baseline" deficit estimate of $219 billion to about $250 billion, the nonpartisan CBO said.
Senate Budget Committee Chairman Kent Conrad, D-N.D., said the 2008 deficit would reach more than $350 billion once the costs of an upcoming economic stimulus measure under negotiation between the Bush administration and Congress are factored in.
http://money.cnn.com/2008/01/23/news/economy/bc.apfn.budgetdeficit.ap/index.htm?postversion=2008012310
Spend , spend, stimulus package, spend, print, borrow, spend...:eek:
edit, article:
WASHINGTON (AP) -- The deficit for the current budget year will jump to about $250 billion, the Congressional Budget Office estimated Wednesday, citing the weakening economy. And that figure does not reflect at least $100 billion in red ink from an economic stimulus measure in the works.
"After three years of declining budget deficits, a slowing economy this year will contribute to an increase in the deficit," the CBO report said.
The figure greatly exceeds the $163 billion in red ink registered last year. Adding likely but still unapproved outlays for the wars in Iraq and Afghanistan brings its "baseline" deficit estimate of $219 billion to about $250 billion, the nonpartisan CBO said.
Senate Budget Committee Chairman Kent Conrad, D-N.D., said the 2008 deficit would reach more than $350 billion once the costs of an upcoming economic stimulus measure under negotiation between the Bush administration and Congress are factored in.
http://money.cnn.com/2008/01/23/news/economy/bc.apfn.budgetdeficit.ap/index.htm?postversion=2008012310