Record White House deficit projection to fuel campaign fight on economy

Friday, July 30, 2004

Record White House deficit projection to fuel campaign fight on economy

By ALAN FRAM
Associated Press Writer

WASHINGTON - The White House's projection of a record federal deficit that could approach $450 billion this year will further fuel a campaign-season dispute over President Bush's handling of the economy.

Bush's budget office planned to release its latest forecast Friday. Its magnitude, described by congressional aides speaking on condition of anonymity, will easily surpass last year's $375 billion, the largest ever in dollar terms.

Republicans are ready to argue that the number underscores the economy's upturn because it shows improvement over expectations of early this year. Democrats, meanwhile, will say it underscores the decline of the government's fiscal health under Bush, who has seen three straight years of worsening annual shortfalls following four consecutive surpluses under President Clinton.

Some congressional aides said the report might also project an increase in spending by Medicare, the government's $300 billion health insurance program for the elderly and disabled. That could further heighten concerns about the program's solvency, already in jeopardy over the next two decades with the impending retirement of the huge baby-boom generation.
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http://www.gogreenbay.com/page.html?article=126887

"More profits for our corporations-- and more $$$$$$ for our overworked executives and CEO's ", they continued.

Where is James Baker?

the borrowing of billions from China and Japan, what's to wonder the cause of the exploding budget shortfalls.

Where is the outrage from the citizens of this country, that is being brutally raped. All I hear is that bu$h is doing a good job protecting us from the terrorists and that cost money.

The stupidity of the sheeple is overwhelming sometimes.

direct correlation to his Iraq scheme and budget debt=the no guns and no butter plan-spending while cutting revenue-this is so obviously a threat to the stability of the country-and why America is NOT safer under Shrub