July 11, 2007
Defecit Narrows
WASHINGTON -- The White House's deficit forecast for the current fiscal year has narrowed to $205 billion, an administration official said Wednesday.The number is to be released later Wednesday, along with the White House's mid-session review, an update of its budget outlook. At $205 billion, the budget gap would be below the Office of Management and Budget's earlier forecast of $244 billion and last year's $248 billion deficit. The current fiscal year ends on Sept. 30.
The budget revision isn't a surprise. The deficit forecast is typically revised downward, and departing budget director Rob Portman told reporters last month that the fiscal 2007 deficit would be closer to $200 billion than the administration's earlier estimate, which was issued in February.
Mr. Portman is leaving Washington to spend more time with his family in Ohio. Former Rep. Jim Nussle (R., Iowa) has been nominated to succeed Mr. Portman.
There was some chatter on Kudlow the other day that Rep Nussle may be able to communicate the success of the Bush tax cuts better than Mr. Portman. I was sorry he was stolen from TeamRudy2088! but wish him success. Second Bush Administration Posted by John Kranz at July 11, 2007 9:47 AM
Note the Democrats' claim that it's just normal economic growth -- as if the tax cuts had nothing to do with encouraging the growth in the first place.
Posted by: Perry Eidelbus at July 11, 2007 5:07 PMSilly, the tax cuts caused the deficit -- don't you watch the news?
Posted by: jk at July 11, 2007 7:59 PMjk,..define "news." Katie Couric's floundering at SeeBS, or Fox?
;-)
Posted by: TrekMedic251 at July 12, 2007 10:01 AMKatie thinks that the tax cuts caused the deficit; Fox thinks that
Posted by: jk at July 13, 2007 5:27 PM | What do you think? [4]*** NEWS ALERT ***
Body of a naked, attractive white woman is found in Red State. We now cut to Geraldo at the East Bejeesus Sheriff's office. Geraldo?
*** NEWS ALERT ***