US budget to produce huge deficits
Washington: The Congressional Budget Office has projected that US President George W Bush's budget would produce deficits totalling $2.75 trillion over the next decade. The forecast, is $737 billion worse than the budget office expects. Bush had sent a $2.4 trillion budget for 2005 to the congress, but it contained outward projections for only five years.
The nonpartisan budget office also forecast that Bush's fiscal plans would produce deficits of $478 billion this year and $356 billion in 2005. Both figures are smaller than the shortfalls Bush has projected for those years.
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