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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Alighieri who wrote (200748)	9/7/2004 6:28:58 PM
From: tejek	Respond to of 1575269

GAO: Ex-Medicare Chief Should Repay Salary Interesting!

To: Alighieri who wrote (200748)	9/7/2004 7:07:15 PM
From: Road Walker	Read Replies (3) \| Respond to of 1575269

re: Democratic presidential nominee John Kerry (news - web sites) linked the concealment and premium increase in an appeal to older voters. "The Bush administration broke the law by covering up the true cost of their phony Medicare bill, and George W. Bush broke his promise to seniors in his convention speech when he told them Medicare was sound and then increased premiums by a record 17 percent the very next day," Kerry said. Why is this not making the evening news? The press is not doing it's job. John

To: Alighieri who wrote (200748)	9/7/2004 11:49:29 PM
From: tejek	Respond to of 1575269

U.S. Deficits May Reach $2.3 Trillion, More If Tax Cuts Renewed Sept. 7 (Bloomberg) -- U.S. budget deficits will total $2.3 trillion over the next decade and may be almost double that if tax cuts are renewed as President George W. Bush has requested, the Congressional Budget Office said. The non-partisan agency forecast the deficit will reach a record $422 billion this year and swell to more than $4.3 trillion over the next 10 years unless all tax breaks including those pushed by Bush expire on schedule. The CBO report illustrates the extent to which tax cuts and military costs in Iraq and Afghanistan will influence the budget balance in the next decade. The report also echoes a warning from Federal Reserve Chairman Alan Greenspan that rising Social Security and Medicare benefits may present ``increasingly stark choices'' for policy makers as the baby boom generation ages. ``At some point it will have an effect in sending real interest rates higher,'' said Andrew Harding, who oversees $6 billion as director of fixed-income at National City Investment Management Co. in Cleveland. The deficit for the fiscal year that ends Sept. 30 is estimated to be 3.6 percent of U.S. gross domestic product, smaller than in the mid-1980s and early 1990s when it often exceeded 4 percent, the agency said. In fiscal 2005, the deficit is forecast to narrow to $348 billion, or 2.8 percent of GDP, the CBO said in a report on its Web site. The forecast for the current year is an improvement over the agency's forecast in March for a deficit of $477 billion. Campaign Comment ``The $56 billion decrease in the deficit projection today is a sign of the economic growth that is a result of President Bush's leadership on tax relief,'' Tim Adams, policy director for the Bush campaign, said in an e-mailed statement. Still, the 10-year prediction is a deterioration from the CBO's forecast in March for a $2 trillion deficit over that period. The change largely reflects rising costs for fighting and reconstruction in Iraq and Afghanistan, which was funded through $115 billion in supplemental appropriations this year. Democratic presidential nominee John Kerry said Bush is leading America in ``the wrong direction.'' Kerry, a four-term Massachusetts senator, said in an e-mailed statement that, if elected, he'd ``cut the deficit in half in four years.'' Analysts such as Kevin Harris of Informa Global Networks expect deeper deficits than the CBO forecasts. The Republican-led Congress approved just $25 billion for operations in Iraq and Afghanistan, part of a White House plan to delay an additional request of at least $50 billion until after the Nov. 2 elections. Continued.......... quote.bloomberg.com