PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: MKTBUZZ who started this subject	6/20/2003 11:20:08 AM
From: Kenneth E. Phillipps	Read Replies (2) of 769670

Federal budget gap swells Deficit for first eight months of budget year set a new record, possibly on way to $400 billion. June 19, 2003: 2:28 PM EDT WASHINGTON (Reuters) - The federal budget moved further into the red in May, posting a $90.45 billion shortfall that, with four months left in the budget year, has pushed the budget gap into record territory, according to a U.S. Treasury report Thursday. In its monthly budget statement, the Treasury said the budget deficit through the first eight months of the budget year totaled $292.06 billion, up from the $145.38 billion in the same period last year and topping the record for an annual budget deficit. In 1992, the budget gap hit $290 billion, about equal to 4.7 percent of the size of the entire U.S. economy. The Congressional Budget Office earlier this month said it expected this year's deficit to top $400 billion, close to about 4 percent of the economy's size.

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