March 05, 2003

U.S. Budget Deficit Rising Fast

U.S. Budget Deficit Rising Fast

The federal deficit is growing much more quickly than expected, even before Congress takes up President Bush's tax-cutting proposals and without factoring in the costs of a war in Iraq, Congressional analysts have concluded.

Analysts for the Republican-controlled House Budget Committee have raised their estimates of this year's budget shortfall by about $30 billion, some 15 percent beyond the forecast that the nonpartisan Congressional Budget Office issued only five weeks ago. Posted by Nathan at March 05, 2003 07:23 AM