Wednesday, July 12, 2006

White House Lowers '06 Deficit Estimate


The Bush administration yesterday lowered its estimate of this year's federal budget deficit to $296 billion -- a figure that prompted the White House to claim vindication for its tax cuts, and Democrats to issue new denunciations of the nation's fiscal problems.

It's like having someone throw you into a steaming pile of manure, but the pile is slightly smaller than you thought it would be.


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