Ahead of <em>Which</em> Projections?

Wednesday, July 13, 2005

Ahead of Which Projections?

From an article in USA Today newspaper:
Surging revenues and a steady economy have led the White House to project that this year's federal budget deficit will drop to $333 billion, nearly $100 billion below earlier estimates. "We're ahead of projections now," President Bush said Wednesday.
But the article in today's edition also noted:
Despite the improvement, the deficit picture remains far worse than when Bush took office in 2001, when both White House and congressional forecasters projected cumulative surpluses of $5.6 trillion over the subsequent decade. Then, it forecast a surplus for this year of $269 billion.
So, in this sense, the president is correct -- the Bushies' budget deficit is now "ahead of projections" made by the administration in 2001.

Leave it to Bush to brag about a budget deficit figure that is nearly 20% higher than the forecast his White House gave back in '01.

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