22 August 2001, 18:45  US cuts FY 2001 budget surplus estimate to $158 bln from $281 bln

Washington, Aug. 22 (BridgeNews) - The Bush administration on Wednesday slashed its estimate of the U.S. fiscal 2001 budget surplus to $158 billion from its February estimate of $281 billion. The administration also pared its estimate of the fiscal 2002 surplus to $173 billion from $231 billion. The downward revisions will reinforce criticisms of the administration's 11-year tax-cut program, which Democrats have argued are excessive.

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