The Associated Press is reporting this morning what everyone already knows: the Congressional Budget Office will project that the deficit will increase from fiscal 2007 to 2008. Including the not-yet-but-absolutely-certain-to-be-proposed-and enacted supplemental appropriations for Iraq and Afghanistan, the 2008 deficit will reach about $250 billion, a $90 billion or so increase from the $162 billion deficit in 2007.
Here's my latest "Fiscal Fitness" column from Roll Call.
President Bush’s Budget Legacy
Already Set in Stone
January 22, 2008
Although it certainly wasn’t meant to be funny, I couldn’t help but laugh when I read the Jan. 14 Roll Call story “Bush May Target Earmarks.”
I took the red eye back to DC from California Thursday night/Friday morning and went directly top a three-hour meeting in an hermetically sealed room.
It looks like House Banking Committee Chairman Barney Frank (D-MA) and House Education and Labor Committee Chairman George Miller (D-CA) are going to be the designated leaders for a stimulus bill in the House. Sen. Chris Dodd (D-CT) may play the same role in the Senate.
Note who has not been designated: House Budget Committee Chairman John Spratt (D-SC) and Senate Budget Committee Chairman Kent Conrad (D-ND).
In case you missed the announcement, I'm no longer writing a column for NationalJournal.com. Starting today, I'm writing a new column for Roll Call, called "Fiscal Fitness" every Tuesday.
Here's the first one.