Wednesday, January 26, 2005

What, it went from really really hard to really really REALLY hard?

Budget Deficit to Set Record

WASHINGTON — White House officials said Tuesday that this year's budget deficit would reach a high of $427 billion, propelled by President Bush (news - web sites)'s request for an additional $80 billion for war costs in Iraq (news - web sites) and Afghanistan (news - web sites).

Separately, congressional analysts forecast a generally worsening budget outlook, saying the federal deficit would become a knottier problem in the next 10 years.

Together, the developments suggested Bush would have a harder time than previously thought in keeping his promise to cut the deficit in half by the end of his presidency. White House officials said, however, that they would still meet that goal.

A harder time than previously thought?

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