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Federal budget deficits explode.(Insider Report)(Brief Article)
A recent update from the Office of Management and Budget (OMB) projects a fiscal year 2003 deficit of $455 billion, followed by a $475 billion gap in 2004. These projected deficits would far surpass the previous record of $290 billion in 1992. Accumulated deficits out to the end of fiscal year 2008, when the OMB forecast ends, total $1.9 trillion.
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Source: HighBeam Research, Federal budget deficits explode.(Insider Report)(Brief Article)