New Deficit Report from CBPP

An analysis of the new budget deficit estimates from CBPP:

Sanitizing The Grim News: The Administration's Efforts to Make Harmful Deficits Appear Benign, 7/18/03

The Administration has attempted to downplay the mushrooming budget deficits the nation now faces. It has termed the deficits "manageable." In addition, in the new budget forecast it issued on July 15, the Administration makes deficits appear considerably smaller than they are likely to be in years after 2004 by using rosy budget estimates, omitting known or likely costs from its budget projections, and ending the projections in 2008, just as the baby-boom generation starts to retire.

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