blogenlust
1.25.2005

Cha-Fucking-Ching


Who needs a tax cut?
The budget deficit is becoming a knottier problem in the short term and will be a potentially catastrophic one in the future, the Congressional Budget Office reported today. The report suggests that President Bush, in the budget he will deliver to Congress in two weeks, will have a harder time keeping his promise to cut the deficit in half during his presidency. The CBO's annual report on the budget outlook foresees a deficit of $400 billion this year. It also forecast a cumulative deficit of $1.3 trillion from 2005 to 2014, an increase of nearly 60% from the CBO's $861-billion estimate of just four months ago.
There is no way in hell Bush is going to cut the deficit in half by 2008, not with tax cuts and total war:
These figures take into account some of the administration's request today for another $80 billion for the war in Iraq, but they do not assume an extension. Nor do they assume the likely extension by Congress of some major tax cuts that were enacted in 2001 and 2003 and are scheduled to expire in 2009 and 2011.
Yeah, I'm sure we won't need any more money for Iraq or Afghanistan.