26
Jan
2005

White House: Deficit will hit record $427 billion

Las Vegas Review-Journal

01/25/05

The White House will project that this year's federal deficit will hit $427 billion, a senior administration official said Tuesday, a record amount partly driven by wars in Iraq and Afghanistan. The official, among three who briefed reporters on condition of anonymity, said the estimate was a conservative one that assumed some higher spending than other analysts use. Last February, the White House projected that the 2004 shortfall would hit $521 billion, only to see it come in at $412 billion. The official said the figure represented progress because it would be smaller than last year's record $412 billion shortfall when compared to the size of the growing U.S. economy. That ratio is a key measure of the deficit's potency...

//tinyurl.com/6z67x


Informant: Thomas L. Knapp
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