WASHINGTON - The Congressional Budget Office on Thursday estimated that the federal deficit will decline to $260 billion this year but will increase to $286 billion next year with total deficits over the next decade put at $1.7 trillion. ADVERTISEMENT The $260 billion forecast for the current budget year, which the CBO previewed earlier this month, would represent an improvement from last year's actual deficit of $319 billion. However, the detailed CBO report released Thursday showed that the improvement will be temporary with deficit expected to swell to $1.7 trillion over the next decade. http://news.yahoo.com/s/ap/20060817/ap_on_go_co/federal_deficit
When have they EVER been right about something 10 years out? Hell, they got this one wrong! The important thing, imo, is that the deficit is at a very reasonable 2% of GDP. PS I predict this thread will be moved to chit chat.