The ‘05 federal budget deficit is set to break last year’s record, reports the Washington Post.
“In separate briefings, administration officials detailed the rising cost of war while the nonpartisan Congressional Budget Office released its deficit forecast for the coming decade. Taken together, the briefings painted a sobering picture of the government’s financial strength, even in the face of a growing economy and rising tax receipts. The figures suggest the Bush administration will continue to have difficulty reining in federal deficits as long as war is draining the government’s coffers.”
“There is no question that [the insurgents], with relatively small expenditures, are proving themselves to be able to force us into much larger ones,“ one senior administration official said.
