A mid-year White House report will tout fiscal progress with a projected U.S. budget deficit for this year of around $420 billion — nearly $100 billion less than the forecast offered five months ago, congressional sources said on Tuesday.
A congressional aide who declined to be identified told Reuters that the $420 billion figure is “what people are talking about” on Capitol Hill.The budget projection will be part of a mid-session budget report that the White House will be putting out, possibly as early as this week. Originally due on July 15, the document was delayed after officials in the Office of Management and Budget sought extra time to update their figures in light of improving economic conditions that have fueled higher tax revenues.
The greatest failure of the Bush presidency so far can be attributed to that fateful date when the Supreme Court ruled the presidential veto unconstitutional. Wait- you mean that didn’t happen?
Sure- the deficit is smaller than projected. But $420 billion?????? Jeebus.