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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