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CBO Sees $250 Million Deficit

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cal04 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 10:02 AM
Original message
CBO Sees $250 Million Deficit
http://news.yahoo.com/s/ap/20080123/ap_on_go_co/budget_deficit_17

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 additional red ink from an upcoming deficit-financed economic stimulus measure.

The nonpartisan CBO says that once the cost of wars is added to its "baseline" deficit estimate of $219 billion, the deficit would be about $250 billion.

"After three years of declining budget deficits, a slowing economy this year will contribute to an increase in the deficit," the CBO report said.

(snip)
"A number of ominous economic signs have emerged since CBO finalized last month the forecast underlying today's report," said House Budget Committee Chairman John Spratt Jr., D-S.C. "Today's new economic forecast thus adds to the growing evidence that the economy has weakened, and that policymakers in Washington must take action."

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Lasher Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 10:10 AM
Response to Original message
1. Quick, while there's time
Edited on Wed Jan-23-08 10:11 AM by Lasher
You meant to say Billion in the subject line, methinks.

Edit: I see the mistake came from the linked article.
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originalpckelly Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 10:11 AM
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2. We wish it was $250 million.
Shyeah, those were the days!
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 10:23 AM
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3. And not counting the $195 billion stimulus package...?
for Iraq either? They are lying to us.
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indepat Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-23-08 10:28 AM
Response to Reply #3
4. Nor the billions extracted from the mythical lock box?
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