Will The Administration Cut The Deficit In Half? And If So, How?
Publication Date: January 2004
Special Collection: John D. and Catherine T. MacArthur Foundation
Keywords: Federal budget; National debt; Economic projections; Fiscal future
Both President Bush, in his State of the Union address, and other Administration officials have said they have a plan to cut the deficit in half in five years. The plan, however, is likely to be largely a public relations device. The Administration will print a budget that, on paper, has figures for the fifth year (2009) that show the deficit being cut in half. But that will be possible only because, as has been the case with previous Bush Administration budgets, it omits major, costly items that the Administration favors and intends to request in subsequent budgets.