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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (1599)	10/20/2003 2:50:19 PM
From: mishedlo	Respond to of 110194

U.S. Budget Deficit Hits Record $374.2B commentary from Steve on the Fool The $374.2 billion deficit figure represented an improvement from the administration's forecast this summer when Bush officials projected the deficit this year would hit $455 billion. apnews.excite.com Better than expected results! Huzzah! Or is it? Now that the United States has Iraq, we have no choice but to push forward with its reconstruction whether other nations help us or not. But it's not going to be easy or painless. The $79 billion spent for this year and that amount or thereabouts for next year are off-budget requests, which means that they don't show up on the fiscal-year budget, but they do show up on the fast-growing federal deficit. redding.com lessee....add the "pro forma" $374.2B deficit to the $79B in costs allocated to the off shore entity and we get a $453.2B deficit, within .4% of the $455B forcast. Son of a gun! And for next year? The Neatest Thing about That $87 Billion Bush and congressional leaders plan to treat the Iraq spending as if it were off-budget, pretending they're not creating red ink businessweek.com Business Week's analysis: This is an accounting gimmick that would shame even Enron. Now we know where Bush buddy Ken Lay is: He's running the administration's Office of Management and Budget and issuing press releases that say "Only within such a fiscal environment can we encourage increased economic growth and a return to a balanced budget." Steve