Budget Office Sees Deficit at $368 Billion
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The U.S. budget deficit will hit  $368 billion this year even before war costs are added, the  Congressional Budget Office said on Tuesday, and analysts said  the number shows it would be hard for President Bush to keep  his promise of halving the gap in five years.
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Surging corporate profits -- and another big increase in corporate tax collections -- will shrink the federal budget deficit to its smallest number in five years, according to new White House estimates, which show the deficit falling to $205 billion in the fiscal year that ends in September.
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Ontario Finance Minister Greg Sorbara forecast the province will end the current fiscal year with aC$2.2 billion ($1.8 billion) budget deficit, unchanged from what he predicted in May.
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The U.S. budget deficit expanded to  $412.55 billion in the 2004 fiscal year, making the Bush  administration's second-straight record fiscal gap, the  Treasury Department said on Thursday.
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The U.S. budget deficit will balloon  to $2.29 trillion over the next decade, congressional analysts  said on Tuesday, a worse outlook than previously forecast and  one likely to stir election-year debate about President Bush's  economic policies.
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TOKYO - Japan&#39;s cabinet on Friday adopted an austere 798 billion-dollar budget for the year to March 2006 in which general or discretionary spending on policy programmes falls for the first time in three years, an official said.
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The U.S. government began the 2005  fiscal year with a budget shortfall, right after posting a  record $412.28 billion budget gap for all of the 2004 budget  year, a report on Wednesday showed.
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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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The federal deficit will fall to $205 billion in the fiscal year that ends in September, a considerably smaller figure than earlier estimates and one that is less than half of the peak deficit, in 2004, according to new White House projections.
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Description: The federal budget deficit will hit a record $422 billion this year, according to new projections from the Congressional Budget Office.
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A new study shows there is a $300 billion gap between what taxpayers owe and what they pay
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Next month, the White House and its congressional allies will be taking victory laps when the deficit for fiscal 2006 is announced. The stated deficit for the year, which ends Sept. 30, will be $260 billion or so. That will be down $58 billion from 2005 and a whopping $77 billion below what the...
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WASHINGTON -- The federal budget deficit would have been 69 percent higher than the $162.8 billion reported two months ago if the government had used the same accounting methods as private companies, the Bush administration reported Monday.
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WASHINGTON - Democrats are blaming President Bush for the record 2004 federal deficit of $413 billion, but Republicans say the figure shows that the economic and budget pictures are brightening.    The Treasury Department announced the figure Thursday, two weeks after the government's 2004 budget year ended and just 19 days from an Election Day in which Bush's economic and fiscal performance are pivotal issues...
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WASHINGTON - The federal deficit will swell to a record $422 billion this election year but fall short of even more dire forecasts, Congress' top budget analysts projected Tuesday in a report that became instant fodder for both political parties.    The nonpartisan Congressional Budget Office said the shortfall would shrink to $348 billion next year - still the third worst ever in dollar terms...
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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 estimate by Congress' nonpartisan budget experts immediately provided political fodder for both parties in the final two-month stretch of the presidential and congressional campaigns...
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Congress is ready to send President Bush an &#36;800 billion debt limit increase, a testament to the massive federal deficits that have marked his administration.