Deficit grows worse than Bush expected
This year's federal deficit should exceed $300 billion -- the largest ever -- as the government's fiscal outlook grows grimmer thanks to surging defense spending and declining revenue, the Congressional Budget Office (CBO) says.
The new estimate by Congress' nonpartisan fiscal analyst comes as Republicans try to enact a fresh round of tax cuts they say will stimulate economic activity and generate increased federal revenue. Democrats say the tax reductions will be a boon to the wealthy and make the worsening budget picture even bleaker.
According to the budget analysis, the federal deficit has reached an estimated $202 billion for the first seven months of the government's budget year, which began Oct. 1. For the same six months last year, the deficit was $65 billion...more [Seattle Times]
I have a great idea to fix the economy - let's give more of the bidget away to rich people. Let's give corporations more tax breaks. That will fix things real fast. I remember how back in the 80's the Republicans liked to blame the Democrats in Congress for the deficits. Who can they blame now? I guess there's Osama and that guy who used to rule Iraq...mj
1:11:36 PM 
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