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Politics : PRESIDENT GEORGE W. BUSH
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To: jlallen who wrote (156987)7/1/2001 10:08:07 PM
From: ColtonGang  Read Replies (1) of 769667
 
Surplus is running out fast...BUSH miscalculation will cost dearly............President Bush's top economic adviser, Larry Lindsey, told reporters on Friday that the surplus may be $56 billion lower than previously estimated. That would wipe out more than half this year's projected surplus, excluding Social Security and Medicare.

Rebate Checks In the Mail

Tax rebate checks, which begin to go out this month, and reduced tax withholding are expected to cost the treasury about $45 billion this year. If the latest estimates hold up, there will be little or no surplus in the government's non-entitlement accounts. If revenues deteriorate further, Democrats say, there will be few alternatives to tapping the substantial Social Security or Medicare surpluses.
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