:: 1.29.2004 ::
Quote of the Day
"Historically, our estimates of what these programs will cost have been so far off as to be meaningless." - Rep. John Shadegg, R-Ariz., who voted against Bush's Medicare bill in November.
White House budget office spokesman Chad Kolton would not comment on the Medicare figures. But an administration official, speaking on condition of anonymity, acknowledged that the estimate would rise to nearly $540 billion.
The good news is Congress refused to make the tax cuts permanent. From YahooNews, courtesy of Fark.
CBO, Congress' nonpartisan fiscal analyst, estimated the bill's 10-year cost at $395 billion. But administration officials repeatedly stood by the $400 billion figure, which Bush had included in the budget he proposed last February.
Bush's new budget will also estimate this year's budget deficit at about $520 billion, the congressional sources said. That would easily surpass the $375 billion shortfall of last year, the highest deficit ever in dollar terms. [emphasis added]
:: Deb 2:16 PM :: permalink ::
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