War spending drives record deficit estimate
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The high cost of waging war is expected to swell the US budget deficit to $2.3-trillion (US) over the next decade, including a record $422-billion in the current fiscal year
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The budget that President Bush will submit to Congress today shows the federal deficit falling in each of the next four years and would produce a $61 billion surplus in 2012, administration officials said. But to get there, Bush is counting on strong economic growth, diminishing costs in the Iraq...
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President George W. Bush will estimate that the U.S. budget deficit for fiscal year 2007 will come in at $205 billion, a drop from last year, U.S. administration officials said on Wednesday.
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WASHINGTON : The US government is expected to run a record 422-billion-US-dollar deficit for the fiscal year to September 30, the Congressional Budget Office revealed.
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WASHINGTON - The federal deficit surged to a record $413 billion in 2004, the Treasury Department announced Thursday, injecting the figure into a presidential campaign in which the two parties have clashed over President Bush's management of the economy and the budget.    The number was a significant improvement from the shortfalls that analysts projected earlier this year, including a $521 billion estimate the Bush administration made in February...
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The U.S. budget deficit will reach  $368 billion this year before any war costs are added in, the  Congressional Budget Office said on Tuesday, according to a  source familiar with the worse-than-expected numbers.
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The US budget deficit will balloon to a cumulative $2.29 trillion over the next decade, congressional analysts said on Tuesday, a worse outlook than previously
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With military costs since Sept. 11, 2001, now expected to exceed &#36;300 billion, the Pentagon is spending more per soldier to fight in Iraq, Afghanistan and elsewhere than it did during earlier conflicts.
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The White House says its drive to halve federal deficits by 2009 remains on track, though it projects that the cost of wars in Iraq and Afghanistan will help drive this year's shortfall to a record &#36;427 billion.
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The Congressional Budget Office is predicting the government will accumulate another $855 billion in deficits over the next decade, excluding the costs of President Bush's Social Security plan and ongoing wars in Iraq and Afghanistan.
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The deficit jumped by 9.3 percent, to $63.1 billion, the government said, reflecting record oil imports. The deficit with China declined while the weak dollar lifted exports to a record high.
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A giant clock ticking the cost of the  war in Iraq lit up in Times Square on Wednesday, making its  debut by flashing $134.5 billion.
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WASHINGTON - The Congressional Budget Office projected Tuesday that this election-year's federal deficit will hit a record $422 billion, a shortfall that would be smaller than analysts predicted earlier this year.    The figure immediately provided political fodder for both parties now in the final two-month stretch of the presidential and congressional campaigns...
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The White House will estimate on Wednesday that the U.S. budget deficit for fiscal year 2007 will come in at $205 billion, a drop from last year, a U.S. official said.
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The wars in Iraq and Afghanistan will cost U.S. taxpayers hundreds of billions of dollars over the next decade, no matter how quickly U.S. troops are reduced in those countries over the next few years, according to a report released this week by the Congressional Research Service (CRS).
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President Bush's 2008 budget request includes $624.6 billion in defense spending and marks the first time he has offered an estimate of how much the wars in Iraq and Afghanistan will cost a year in advance.
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President Bush sent to Congress a $2.9 trillion budget plan that would dramatically increase military spending -- including an extra $245 billion for the wars in Iraq and Afghanistan -- but squeeze federal health care programs and most domestic agencies to achieve his goal of eliminating the deficit...