Congress&#39; deficit forecast worsens
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The US budget deficit will balloon to $2.29 trillion over the next decade, a worse outlook than previously forecast according to a new report by congressional analysts, said a congressional source Tuesday.
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Slight improvement tempered by forecast of a sharp rise in debt over the next 10 years. Links to other web sites will open a new browser.
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President George W. Bush will estimate that the U.S. budget deficit for fiscal year 2007 will come in at $205 billion, a drop from last year, U.S. administration officials said on Wednesday.
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Next month, the White House and its congressional allies will be taking victory laps when the deficit for fiscal 2006 is announced. The stated deficit for the year, which ends Sept. 30, will be $260 billion or so. That will be down $58 billion from 2005 and a whopping $77 billion below what the...
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The presidentâs budget, which foresees near-record deficits just ahead, is sure to meet resistance in the Democratic Congress.
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WASHINGTON -- The nation's budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004, according to new White House estimates.
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Democrats accused Republicans of disastrous economic policies as Congress moved Thursday toward shipping President Bush an &#36;800 billion increase in the federal borrowing limit.
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A Congress derided as do-nothing has a week before breaking for the elections to do something, and the prospects are cloudy.
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The US is set to rack up an even bigger budget deficit than first thought over the next decade, officials say.
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One guiding star in the &#36;2.5 trillion budget that President Bush ships Congress next month will be his goal of cutting the federal deficit in half by 2009.
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The White House will estimate on Wednesday that the U.S. budget deficit for fiscal year 2007 will come in at $205 billion, a drop from last year, U.S. administration officials said.
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The Bush administration will seek to slash government spending next year, U.S. Treasury Secretary John Snow said on Sunday, but he was less specific than the president in predicting how quickly the deficit would fall.
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WASHINGTON - The Congressional Budget Office projected Tuesday that this election-year's federal deficit will hit a record $422 billion, a shortfall that would be smaller than analysts predicted earlier this year.    The figure immediately provided political fodder for both parties now in the final two-month stretch of the presidential and congressional campaigns...
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Federal Reserve Chairman Alan Greenspan says the growing US budget deficit might destabilize the economy. Fed Governor Susan Bies says Congress spends like it&#39;s dipping into a &quot;a cookie jar.
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WASHINGTON -- The federal budget deficit, helped by a surge in government revenue, is running 14.1 percent below the pace of last year, the government reported yesterday.
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President Bushâs $3 trillion budget has little chance of surviving in a Democratic Congress. But the problems it lays out will survive and grow.
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The latest deficit projections from the Congressional Budget Office forecast a sea of red ink that will only deepen under plans to jump-start the economy with tax cuts and government spending.