U.S. budget deficit estimated at $250 billion

http://thinkprogress.org/2008/01/23/us-budget-deficit-estimated-at-250-billion/

U.S. budget deficit estimated at $250 billion.

A new Congressional Budget Office estimate released today concluded that the “budget deficit for the current budget year will jump to about $250 billion,” which includes the cost of the Iraq war. This figure, however, does not factor in the “at least $100 billion in additional red ink from an upcoming deficit-financed economic stimulus measure.”

UPDATE: Senate Budget Commitee Chairman Kent Conrad’s (D-ND) statement:

CBO’s new projections show that the deficit will worsen in 2008. This short-term deterioration is due, at least in part, to our slowing economy. And it is important to note that CBO’s baseline projections actually understate the likely short-term deficit levels, because they exclude expected costs such as a stimulus package and additional war funding requested by President Bush. Once these costs are added in, the deficit in 2008 is likely to exceed $350 billion, and the debt is likely to increase by over $600 billion.

Does not make sense.

Book-cooking in there someplace.

But this is a fitting end to the ruinous Bush regime, another huge increase in the national debt, another sorry chapter in the 'reaganized' federal budgets that prioritize war and tax cuts for the wealthy over social programs that benefit working families and do so with complete fiscal irresponsibility.

...what they grab out of the Social Security fund.

They take the SS surplus every year, and then don't report it in the fiscal numbers, but it sure as hell shows up on the national debt, welcome to Enron nation.

Think of it as a tax on top of the original sale price.

Something's not adding up here.

Either way, China is making a lot of money.

They're profiting on an excellent investment. Why would they?

When they do, that is the time to worry.

And I agree with you they are making good money on us. But it does put us in a position that we should not be in.

The Interest is mindboggling....our MBA President is not making any sense in running the Nations purse strings....

Other budgets for reference:

NASA: $15 Billion
Education: $61 Billion
Transportation: $56 Billion

The country is being run into the ground.

:scared:

They do not think for the WHOLE

They think act for selfinterest

With the GOP....its MEism gone wild....