"It will elicit a substantial revision in the outlook for the surplus, and we were already getting awfully close to not much left".
[C3.] Report Questions Federal Surpluses A Congressional Budget Office study on federal budget surpluses warned that although the fiscal outlook for the next decade or so is bright, and getting brighter, the picture over the longer run remains troubled.
Still, it is another sign of how markedly the outlook for the budget surplus has changed in just the last two months, as the economy and tax revenue have slowed drastically.
Projections by Congress and the Bush administration of surpluses of $5.6 trillion over 10 years, the outlook in 2001, have turned into estimated deficits of at least $1.4 trillion and possibly as much as $5 trillion.
The loss of the surplus is a major factor in the gloomy outlook for next year.
Of the total increase of $1.275 trillion in the 10-year surplus projection, $984 billion comes from the improved economic outlook.
China's imports have been falling faster than its exports and in recent months its trade surplus has risen.Add these factors together and the outlook seems grim.
A1 Tempering Optimism on Surplus The Congressional Budget Office warned that although the fiscal outlook for the next decade or so was bright, and getting brighter, the picture over the longer run remained troubled, even dire.
These subjects differ markedly from last year's CEA outlook, which highlighted the capital account surplus, workforce skills, retirement savings, intellectual property and agriculture.
These subjects, which each receive a chapter in the report, differ markedly from last year's CEA outlook, which highlighted the capital account surplus, workforce skills, retirement savings, intellectual property and agriculture.
