$455 Billion Deficit
by Guest Blogger, 7/17/2003
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