US Congressional Office Says US Deficit Projected at $422 Billion
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The US Congressional Budget Office (CBO) Tuesday released its budgetary and economic forecast, and its predictions were not substantially different from those of the Bush administration.
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The federal government, running record budget deficits over the past two years, is projecting that it will have to borrow a record $147 billion in the first three months of 2005, the Treasury Department announced Monday.
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WASHINGTON: The deficit at the federal agency that rescues failed US corporate pensions more than doubled to $23.3 billion in fiscal year 2004, officials said on Monday, with analysts largely blaming bankrupt airlines.
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The federal deficit of the US government hit a record high of 436.9 billion US dollars in the first 11 months of fiscal year of 2004 which will end in this month, the Treasury Department reported on Monday.
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On the campaign trail, members of Congress often promise to eliminate pork-barrel spending. After all, the federal deficit is now up to $413 billion, and the US is waging an expensive war in Iraq.
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The long-term economic health of the United States is threatened by $53 trillion in government debts and liabilities that start to come due in four years when baby boomers begin to retire.
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A recovery in corporate taxation has modestly improved the federal government's short-run deficit, but the long-term deficit has only grown worse during the past six months due to government spending, the non-partisan Congressional Budget Office said today.
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The federal deficit surged to a record &#36;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.
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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 war and tight domestic spending to offset the cost of his tax cuts....
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The US budget deficit will balloon to $2.29 trillion over the next decade, a worse outlook than previously forecast according to a new report by congressional analysts, said a congressional source Tuesday.
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The U.S. current account deficit  grew to a record $164.71 billion in the third quarter, less  than had been forecast, the Commerce Department said on  Thursday.
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The current account deficit of the United States hit a record high of 164.7 billion US dollars in the third quarter of this year as a result of increasing demand for imported
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The federal deficit of the US government hit a record high of US$436.9 billion in the first 11 months of fiscal year of 2004 ending on September 30, the Treasury Department reported on Monday.
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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 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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The US agency that insures the pensions of 44 million workers said its deficit more than doubled to $23.3 billion this year on the expectation additional company retirement plans will fail.
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In one of its gloomiest forecasts yet, the Independent Budget Office projected a $3.1 billion budget deficit in the 2009 fiscal year, rising to $4.6 billion in 2010 and $6.3 billion in 2011.