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Bush Admistration: Record Deficit on Track for 2009!
By
Jen Chung
Published Jul 28, 2008
Modified Jul 28, 2008
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By
Jen Chung
Published Jul 28, 2008
Modified Jul 28, 2008
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Senators John McCain and Barack Obama better keep working on their economic policies: The White House released an estimate saying the deficit will grow to $482 billion next year, thanks in part, per the AP, to the "sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession." Keep in mind Bush inherited a $128 billion surplus in 2001. The budget office still says, "The nation's economy has continued to expand and remains fundamentally resilient," but let's cut to the Dow Jones Industrial slipping this afternoon.
Tagged
budget
Bush administration
deficit
White House
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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