Bush White House projects massive budget deficit of $333 billion

From The Associated Press, 7/14/05: http://www.eyewitnessnewstv.com/Global/story.asp? S=3589738

WHITE HOUSE

The White House is projecting a dramatic drop in the federal budget deficit.

It now estimates the red ink at 333 (b) billion dollars for the current fiscal year.

AND BRAGGING ABOUT IT.

A reduction of a hundred BILLION dollars, brought about by tax breaks and the resulting economic growth. Doncha just love it when the President's plan works?

Jim E

The usual Bush lying and spinning.

1. The higher tax receipts in 2004 were due to one-time occurrences: temporarily increased capital gains taxes from the briefly resurgent stock market, and the expiration last year of a one-time, limited-duration corporate tax break, which won't be repeated this year.

2. The bogus Bush numbers OMIT ENTIRELY the HUGE AND EVER-ESCALATING COST OF THE WARS IN IRAQ AND AFGHANISTAN! What the hell kind of accounting is THAT? It's the equivalent of you or me figuring out annual expenses by first dropping our car and mortgage payments! It's insane, unconscionable, duplicitous, and a COMPLETE LIE!

Good news always ruins you guys entire day. Sorry bout that.

Jim E

Instead of addressing the two points I raised, you snipped them.

You're a coward.

Here the are again, care to address them this time?

1. The higher tax receipts in 2004 were due to one-time occurrences: temporarily increased capital gains taxes from the briefly resurgent stock market, and the expiration last year of a one-time, limited-duration corporate tax break, which won't be repeated this year.

2. The bogus Bush numbers OMIT ENTIRELY the HUGE AND EVER-ESCALATING COST OF THE WARS IN IRAQ AND AFGHANISTAN! What the hell kind of accounting is THAT? It's the equivalent of you or me figuring out annual expenses by first dropping our car and mortgage payments! It's insane, unconscionable, duplicitous, and a COMPLETE LIE!

I did ignore them, for a reason. I reject their relevance to the issue.

Jim E

Actually, it is a temporary, one time influx of tax receipts, mostly from bonuses and other payments to the extremely wealthy business class, that is responsible for the increased receipts. Deficit forecasts for the future have not been reduced.

And with the repuglicon accounting tricks of paying for the war off the books, the federal debt is expected to increase by as much as $600 billion this fiscal year.

Truth always hurts rightards, don;t it?

Typical of the Repugs, ignore the issue and you think it will go away. SURPRISE, it isn't.

Exactly the points I brought up, and he refused to address.

He's a coward.