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Deficits Loom Despite Bush Pledge

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Deficits Loom Despite Bush Pledge

U.S.

Deficits Loom Despite Bush Pledge

Deficits Loom Despite Bush Pledge

  • Download
  • <iframe src="https://www.npr.org/player/embed/1555527/1555528" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

The federal budget reached $374 billion in the past fiscal year. This past week, President Bush pledged to cut the federal deficit in half over five years. But forecasters say spending may exceed tax revenues by almost $500 billion in the coming year. NPR's Steve Inskeep reports.