Administration's Budget Does Not Reflect Administration Policies: Administration Policies Would More Likely Lead to a $113 Billion Deficit in 2012 than a $48 Billion Surplus

Publication Date: March 2008

Publisher: Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Kris Cox

Research Area: Banking and finance; Government

Keywords: Economic projections; Fiscal future; Federal budget

Type: Report

Abstract:

Administration’s fiscal year 2009 budget released on February 4 did not fully reflect the Bush Administration’s policies. While the Administration’s policy proposals can be debated, the costs of the Administration’s own stated policies--a presence in Iraq and Afghanistan through the foreseeable future and receipt by taxpayers of the full value of their promised tax cuts--ought to be included in the Administration's budget projections for the next five years. Including these costs brings the projected deficit under the Administration’s budget to at least $113 billion in 2012