CBO: Federal budget surplus predicted if Bush tax cuts are repealed.

[Lefty48197]

The Congressional Budget Office has projected that if Bush's tax cuts for his rich friends expire in 2010 as per current law, then the federal budget will return to surplus only two years later, in 2012.

"...if those tax cuts are allowed to expire after 2010... ...the budget would begin showing a surplus in 2012, the CBO's budget projections showed.

"Bush wants Congress to make the tax cuts permanent before he leaves office in 2009."

"In its annual budget and economic report, the agency estimated that this year's deficit will be $337 billion, up $19 billion from 2005. It said the deficit will be about $360 billion if extra anticipated costs for Iraq, Afghanistan and the hurricane-ravaged Gulf Coast are added."

"The long-term budget forecast is gloomier, particularly if Bush and Congress agree to extend the tax cuts. In 2016, the deficit would be nearly $400 billion..."



http://www.usatoday.com/printedition/news/20060127/a_deficit27.art.htm

I don't know why USAToday doesn't include the graphics from their print editions with their on-line editions. Here is the graphic that was included with this story: