Washington -- The White House acknowledged Thursday that the budget deficit would climb back above $400 billion this year, erasing the brief improvement last year and complicating President Bush's vow to cut the deficit in half by 2009.
{snip}
Joel Kaplan, the White House deputy budget director, predicted that the government's shortfall would climb from $319 billion in 2005 to more than $400 billion in 2006, largely because of relief efforts tied to Hurricane Katrina.
That shortfall would be equal to about 3.1 percent of the nation's gross domestic product, a significantly higher share than last year and high for a country that is expected to experience its fifth straight year of economic growth.
It does make one wonder what the numbers would look like if Bush had not given millionaires hundreds of billions in tax breaks, if Bush has not chosen to invade Iraq (a war that he promised would cost no more that 25-50 Billion {some cost projections now run 2 TRILLION}), if we had real leadership in DC.
Instead we have run up almost 2 Trillion in debt in 5 years, and the fool thinks we are doing well. Welcome to Bush's America.
UPDATE
Gas prices drive up wholesale inflation
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Bush deficit Debt
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