corrente

AP

President Bush's budget would produce deficits totaling $2.75 trillion over the next decade, the Congressional Budget Office projected Friday in the first authoritative look at the plan's longer-range implications.

One major item omitted by Bush's budget but included in Friday's projections was the cost of his proposal to make tax cuts permanent that otherwise would expire in 2010. Bush's tax plans would add more than $1.3 trillion to deficits over the decade, although his plans to curb domestic spending would save $700 billion over that same period, the budget office said.

Just two years ago, the budget office and Bush envisioned surpluses totaling $5.6 trillion for the decade ending in 2011. The projections released Friday cover a slightly different period, the 10 years running through 2014. Even so, the contrast is striking.

Oh, gosh. I thought Bush said the spending cuts would bring the budget back into balance. But no ...