Saturday, January 31, 2004

Re: The CBO: Obscuring the Problem

Some astounding numbers from the CBO. From the Wall Street Journal, Sen. Kent Conrad, the ranking Democrat on the Senate Budget Committee:

"These aren't short-term deficits. CBO's estimates show that if we continue with our current policies, and factor in the cost of extending recent tax cuts and reforming the Alternative Minimum Tax, the deficit over the next 10 years for the period 2005-2014 will soar to $4.8 trillion, or $7.1 trillion if Social Security is excluded. That represents an astounding reversal from the $5.6 trillion 10-year surplus for the period 2002-2011 that was projected when President Bush took office," Conrad said.

The CBO report can be found here.

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