Federal Surplus Estimate Balloons
news.excite.com
WASHINGTON (AP) - The Congressional Budget Office has boosted its projection
of the federal surplus to $3.12 trillion over the next decade, congressional budget
analysts said Tuesday, giving new momentum to President Bush's calls for a big tax
cut.
The new figure, which excludes additional surpluses from Social Security, adds to the
political muscle that Alan Greenspan provided last week to Bush's push for a $1.6
trillion, 10-year tax cut.
The latest CBO figure, described by aides on condition of anonymity, represents a
big jump from the $2.17 trillion the nonpartisan budget office envisioned just last July.
The new projection covers fiscal years 2002 through 2011, while last summer's
estimate was for 2001 through 2010.
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From the same article....
"Anytime you have a forecast for a higher surplus, that makes higher spending, an
additional tax cut easier to do," said Sen. Kent Conrad of North Dakota, top
Democrat on the Senate Budget Committee.
Sigh
Regards
Jay |
