Downward budget spiral continues…
Congressional Budget Office says deficit could reach $500B – Aug. 25, 2003
Report: Deficit could reach $500B
Budget office to predict deficit will hit $500B record by 2004; may hurt Bush re-election.
August 25, 2003: 5:15 PM EDT
WASHINGTON (Reuters) – The Congressional Budget Office appears set to predict a federal budget deficit of close to $500 billion in 2004, a record shortfall that could pose problems for President Bush as he seeks re-election next year, budget analysts said Monday.