Ungodly trade deficit

CBO foresees $1.76 trillion deficit over decade
Updated 8/17/2006 11:18 AM ET
WASHINGTON (AP) — The Congressional Budget Office on Thursday estimated that the federal deficit will decline to $260 billion this year but will increase to $286 billion next year.

The agency estimated total deficits over the next decade at $1.76 trillion. The $260 billion forecast for the current budget year, which the CBO previewed earlier this month, would represent an improvement from last year’s actual deficit of $319 billion.

However, the detailed CBO report released Thursday showed that the improvement will be temporary with deficit expected to swell to $1.76 trillion over the next decade. (Story.)

I know that nothing is ever as simple as we tend to want to make it, but at this point I’d like to nominate a new phrase to be used in cynical partisan labeling frenzies.

Here goes: “Tax and spend conservatives.”

Try it out at home, at the lodge, over coffee with co-workers. Let me know how it plays.

[THX: Steve at the West Bygod Bureau.]


One thought on “Ungodly trade deficit

  1. I wish some of that “spending” was going toward R&D. We just went through a hellish grant review cycle with a funding agency I won’t name. Our lab sent in 10 proposals and only one got funded. And even THAT didn’t go as planned.
    At this point, I’m not so sure the quality of the grant has anywhere near as much importance as politics in these review thingies. Kinda depressing for a young investigator like me. 😦
    Almost makes me want to go back to working at Wendy’s. At least I knew where I stood there.

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