Demanding a federal budget that is fair, responsible, and meets our nation's priorities

Thursday, October 12, 2006

Attention Deficit

They must think we're not paying attention.

Have a look at this statement, from an editorial in the Washington Post:

The Bush administration announced last week its revised figure for this year's budget deficit: $445 billion. This, or so the spin goes, is good news, because the original forecast was even higher -- $521 billion. But outside budget experts had warned that the forecast was inflated, which tarnishes any celebration of the new number. Not that the administration was deterred. "This improved budget outlook is the direct result of the strong economic growth the president's tax relief has fueled," crowed Office of Management and Budget.... Only in the administration's upside-down economic world could a deficit $70 billion higher than last year's be hailed as progress.

We've seen this movie before, haven't we? This editorial exposes the Administration's little deficit trick, the 2004 campaign edition.

OK, the Bush Administration isn't the first to try this maneuver. But how egregious it is compared to recent administrations? As Bloomberg reports:

"Bush's budget-forecast misses in the past six years averaged $111.5 billion, according to figures from the White House Office of Management and Budget. That ranks him behind the Reagan administration's $98.1 billion average gap, George H.W. Bush's average of $69.9 billion, and about twice the Clinton administration's $58 billion average."

That's quite some record. The biggest misforecast in 21 years."