NewsJuly 14, 2002
White House sees $165 billion deficit
WASHINGTON -- With the White House conceding that this year's federal deficit looks worse than expected, both parties are trying to use the new projections to their advantage in the fall campaign. The Bush administration said Friday the government should run a $165 billion deficit in the federal fiscal year ending Sept. 30. That would be the first red ink in four years, and $59 billion worse than the administration estimated in February...
The Associated Press
WASHINGTON -- With the White House conceding that this year's federal deficit looks worse than expected, both parties are trying to use the new projections to their advantage in the fall campaign.
The Bush administration said Friday the government should run a $165 billion deficit in the federal fiscal year ending Sept. 30. That would be the first red ink in four years, and $59 billion worse than the administration estimated in February.
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White House budget director Mitch Daniels said deficits should gradually shrink, with a $53 billion surplus returning by 2005.
Democrats said the administration was using rosy numbers to make things look better than they really will be.
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