Deficit Analysis and Bush Differ (Bush plan WON'T cut deficit 50% in 5 y)

[papau]

http://www.nytimes.com/2004/09/08/politics/08deficit.html

Deficit Analysis and Bush Differ
By EDMUND L. ANDREWS

ASHINGTON, Sept. 7 - Even if the United States saved billions of dollars by withdrawing all troops from Iraq and Afghanistan, President Bush would still be unlikely to fulfill his promise to reduce the federal budget deficit by half within five years, the nonpartisan Congressional Budget Office said Tuesday.

In the final independent assessment of Mr. Bush's fiscal policies before the November election, the Congressional agency predicted that, if no existing laws changed, the federal deficit would see a much smaller decline, to $312 billion in 2009 from a record of $422 billion in 2004.<snip>

Over the next 10 years, the budget office said, the federal debt could swell by $4.9 trillion and climb rapidly after that as the nation's baby boomers start to draw Social Security and Medicare.

If Mr. Bush persuades Congress to make his tax cuts permanent, the federal deficit will increase to about $500 billion in 2009. The new estimate is the first time the Congressional agency has projected that Mr. Bush will probably fail to achieve his goal of reducing the deficit by half in five years.

Deficits have soared under Mr. Bush, who took office when the budget had a surplus of more than $150 billion and is now presiding over the second record deficit in a row.<snip>

[tandot]

1. Don't tell me that Dubya is not the economic genius we all thought he was

How can we all be so wrong? I thought his policies will make the poor rich and the economy strong?

[papau]

2. LOL - - sigh .... :-)

:-)