Deficit sits at $368B without Iraq

by on January 25th, 2005

(CBS/AP) The Congressional Budget Office is projecting this year’s deficit at $368 billion – a near record number, but one that will surely rise, reports CBS News Correspondent Bob Fuss. That’s because the estimate, along with a broader 10-year projection, doesn’t include the cost of the war in Iraq or the costs associated with President Bush’s proposed changes for Social Security.

The numbers come on the same day President Bush is asking Congress for another $80 billion for the wars in Iraq and Afghanistan – money the administration has consistently refused to put in the regular federal budget.

Congress approved $25 billion for the wars last summer. The newest request would push the totals provided for the conflicts and worldwide efforts against terrorism past $300 billion — including $25 billion for rebuilding Iraq and Afghanistan.

Etalkinghead Staff