U.S. Budget Deficit Surged in Fiscal 2003; Officials Expect Shortfall To Widen Over Next Year Even as Economy Improves

Democrats were skeptical and seized the moment to step up criticism of the Bush administration's handling of the government's finances. The U.S. Treasury has seen a projected $5.6 trillion 10-year surplus disappear during the Bush administration's first three years, thanks to a combin...

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Bibliographic Details
Published inThe Wall Street journal Asia
Main Author Deborah Lagomarsino and John D. McKinnon
Format Newspaper Article
LanguageEnglish
Published Victoria, Hong Kong Dow Jones & Company Inc 22.10.2003
Subjects
Budget deficits
GDP
Gross Domestic Product
Tax cuts
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Summary:Democrats were skeptical and seized the moment to step up criticism of the Bush administration's handling of the government's finances. The U.S. Treasury has seen a projected $5.6 trillion 10-year surplus disappear during the Bush administration's first three years, thanks to a combination of a weak economy, increased spending for war and homeland security, and the administration's tax cuts.
ISSN:0377-9920