Federal deficit

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    • Budget deficit may drop this year

      Posted by Jeff from Seattle Times

      Republicans already are contending that the revenue jump proves their argument that tax cuts, especially the 2003 tax cut on stock dividends, would spur the economy and ultimately increase revenues. Democrats and many independent budget analysts note that revenues have barely climbed back to the levels reached in 2000, and that the government has spent trillions of dollars from Social Security surpluses just as the first of the nation's baby boomers are nearing retirement.

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    • What will war cost? Studies weigh oil prices, lost productivity, more

      Posted by Jeff from Seattle Times

      But two research papers — one authored by an Iraq war critic, the other by a scholar at a conservative research center — sparked controversy by suggesting that when economic factors not included in the budget are added, the true cost to the U.S. economy over the next decade could be anywhere from $657 billion to $2 trillion for the Iraq war alone.

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    • Deficit Will Climb in 2006, White House Says

      Posted by Jeff from New York Times

      No surprise here: "The White House acknowledged on 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."

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