 Strategic Analysis | October 2003 Deficits, Debts, and Growth A Reprieve but Not a Pardon
These are fast-moving times. Two years ago, the Congressional Budget Office (CBO, 2001) projected a federal budget surplus of $172 billion for fiscal year 2003. Within a year, the projected figure had changed to a deficit of $145 billion (CBO 2002). The actual figure, near the end of fiscal year 2003, turned out to be a deficit of about $390 billion. And just one month ago, President Bush submitted a request to Congress for an additional $87 billion appropriation for war expenditures, over and above the $166 billion tallied so far. It is widely anticipated that even this will have to be revised upward by the end of the coming year (Stevenson 2003; Firestone 2003).
Publication(s):
View all associated program(s) publications:
The State of the U.S. and World Economies
|
|
Author(s):
|
| Anwar M. Shaikh |
| Dimitri B. Papadimitriou |
| Claudio H. Dos Santos |
| Gennaro Zezza |
|
|
 |
After the Crisis: Planning A New Financial Structure
