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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Ploni who wrote (9189)	5/26/1998 11:35:00 AM
From: tonto	Read Replies (3) \| Respond to of 18691

Tuesday May 26, 11:14 am Eastern Time White House to forecast 10 years of budget surplus WASHINGTON, May 26 (Reuters) - The White House will forecast Tuesday federal budget surpluses for the next 10 years starting this fiscal year, a White House official said. But its forecast surplus for fiscal 1998 will be less than Congress' projection of $43 billion to $63 billion, the official said. ''It's a little more conservative than the low range of that,'' the official told Reuters, referring to the Congressional Budget Office projection released this month. President Bill Clinton is to announce the White House budget office mid-fiscal year projections at about 11:15 a.m. EDT. ''We're going to review up our surplus numbers for the next 10 years,'' the U.S. official said. ''The numbers are pretty significant.'' The official said revenues had been coming in higher than anticipated and spending was lower. But he said Clinton would reiterate his position that any surpluses should be reserved until the Social Security old-age pension system is overhauled. The last official White House budget forecast, made earlier this year, estimated a $10 billion deficit. But officials have said since then that a surplus of more than $18 billion was possible.