The biggest news of the record $3-trillion-plus federal budget that President Bush plans to propose to Congress on Monday may be the potential deficit that comes with it.
After years of White House boasting that it is getting the deficit under control – cutting it by $250 billion during the past two years – the administration appears ready to concede that the deficit will rise to $400 billion or more in the coming year. That’s a near-return to the record $413-billion deficit reached in 2004.
Chicago Tribune
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