US Congress sees 422-billion-dollar deficit for current year(2.3T over 10)

[papau]

2.3 Trillion additional Debt - before new Bush ideas- and that is pretending the Alt Min and Child Credit and Marriage relief etc. will not be law in the future! - and the media say nothing!

http://story.news.yahoo.com/news?tmpl=story&ncid=1504&e=6&u=/afp/20040907/bs_afp/us_economy_budget_040907145341

US Congress sees 422-billion-dollar deficit for current year


WASHINGTON (AFP) - The US government is expected to run a record 422-billion-dollar deficit for the fiscal year to September 30, the Congressional Budget Office revealed.

Although the gap is the highest ever in dollar terms, it is slightly below the forecast published in late July by the White House for a 445-billion-dollar budget deficit. <snip>


The new CBO report said that under existing law, the deficit is projected to decline to 348 billion dollars, or 2.8 percent of GDP, in 2005, and that the budget would remain in the red through 2014.


The cumulative deficit for 2005 through 2014 is projected at 2.3 trillion dollars, or 1.5 percent of total GDP.


But analysts point out that the real figures could be sharply different if various tax changes are enacted, including widely expected moves to extend some tax benefits due to expire. <snip>