Blog: The Fine Print

$455 Billion Deficit

by Guest Blogger, 7/17/2003

Federal Budget Policy, Appropriations, Federal Debt and Deficit, Spending Transparency, Long-Term Fiscal Gap, Revenue & Spending, Office of Management and Budget (OMB)

The White House Office of Management and Budget (OMB) recently projected that the US federal budget will see an unprecedented $691 billion deterioration in its budget situation -- moving from record surpluses of $236 billion in 2000 to record deficits of $455 billion in 2003. This paper outlines some of the basic characteristics of the current situation and places them in the context of recent history.

OMB Watch - Interpreting the Return to Budget Deficits

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