Bush Administration Announces $455 Billion Deficit Story aired: Tuesday, July 15, 2003
$455 billion: that's the size of the 2003 budget deficit according to White House projections released today, $155 billion more than the White House predicted just five months ago. There's another number in the billions to contemplate: the $236 billion surplus just three years ago.
What happened? There's the still flailing economy, the $79.2 billion emergency spending bill at the outset of the Iraq war, and the first outflow of the recently passed tax cut.
Laurence Kotlikoff, chairman of the department of economics at Boston University, joins Here and Now to discuss the budget.
Guests:
Laurence Kotlikoff, chairman of the department of economics at Boston University
