January 27, 2006
The Congressional Budget Office has issued its ten-year budget outlook. According to their report, the 2006 federal budget deficit will be at least $337 billion, and deficits from 2006-15 will total $1.2 trillion.
That’right – trillion. For years before the Republicans won control of Congress & the White House, we conservatives damned the Democrats for their wanton spending and unbalanced federal budgets. But the Bush White House and the DeLay Congress are worse than any Tip O’Neill fiscal scheme.
Unfortunately the deficits could be even worse. The CBO numbers exclude tens of billions of dollars in expected spending for Iraq and Katrina. The CBO also assumes the Bush tax cuts will expire over the next 10 years.
According to CBO – “If all of the tax provisions that are set to expire over the next 10 years were extended, the budget outlook for 2016 would change from a surplus of $67 billion to a deficit of $584 billion“.
Bush is killing our economy!