NewsMine — cabal-elite — international-banking — US-debt — Viewing Item

Federal deficit estimated almost another trillion { January 25 2005 } Original Source Link: (May no longer be active)    http://www.foxnews.com/story/0,2933,145335,00.html http://www.foxnews.com/story/0,2933,145335,00.html 10-Year Federal Deficit Estimated at $855 Billion Tuesday, January 25, 2005 WASHINGTON — The Congressional Budget Office (search) is predicting the government will go another $855 billion into debt over the next decade, excluding the costs of President Bush's Social Security plan and ongoing wars in Iraq and Afghanistan. The report, described by a congressional aide who spoke on condition of anonymity, was being released Tuesday, the same day administration officials were expected to describe President Bush's (search) request for fresh $80 billion request to pay for military operations in Iraq and Afghanistan this year. The deficit projections for the years 2006 through 2015 is almost two-thirds smaller than what congressional budget analysts predicted last fall, but the drop is largely due to estimating quirks that required it to exclude future Iran and Afghanistan war costs. Last September, their 10-year deficit estimate was $2.3 trillion. The CBO now also projects this year's shortfall will be $368 billion. That was close to the $348 billion deficit for 2005 it forecast last fall. If the estimate proves accurate, it would be the third-largest deficit ever in dollar terms, behind only last year's $412 billion and the $377 billion gap of 2003. Besides lacking war costs, the budget office's deficit estimates also omitted the price tags of Bush's goal of revamping Social Security, which could cost $1 trillion to $2 trillion and dominate this year's legislative agenda; an estimated $1.8 trillion price tag of extending Bush's tax cuts and easing the impact the alternative minimum tax would have on middle-income Americans; and other expenses.

Billions in federal lands sold off { December 3 2007 } Budget deficit hits 374b { October 20 2003 } Buffett attacks america as rich spending junkies { March 7 2005 } Buffett makes billions betting against dollar { March 5 2005 } Bush presides over biggest spending since 1990 Cheney says deficits dont matter { January 12 2004 } China holds the mortgage to the dollar { August 31 2005 } China loses faith in dollar Congress approves 1tr debt { May 27 2003 } Debt near ceiling again { February 20 2003 } Fd chair blames long term rates on world savings glut { March 20 2006 } Federal deficit estimated almost another trillion { January 25 2005 } Financial crisis if foreign investors pull out { November 21 2005 } Foreign investors finance US debt by 2b a day Government borrows billion a day { October 8 2004 } Greenspan leaves us with record debt { January 23 2006 } Greenspan warns not to pay down debt { March 22 2001 } Raise debt limit Raises debt limit { June 27 2001 } Republicans raise debt limits to 9 trillion { March 17 2006 } Short term yields above long term in reinversion Snowballing debt awaits taxpayers { December 1 2003 } Treasury needs to raise 8 trillion debt limit { February 2006 } UN calls for asian help US deficits { January 26 2005 } US debt tops 9 trillion for first time { October 2007 } War spending drives record deficit estimate Whitehouse urges raise debt ceiling { May 20 2003 } Files Listed: 27

Correction/submissions

CIA FOIA Archive

National Security Archives

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information, go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purpose of your own that go beyond 'fair use', you must obtain permission from the copyright owner.