] THE CONGRESSIONAL Budget Office released its new deficit ] projections yesterday, and the bad news is that the ] deficit is forecast to total nearly $2.4 trillion over ] the next decade, almost $1 trillion more than the ] estimate just five months ago. The worse news is that the ] actual prognosis is far grimmer. Because the budget ] office is required by law to ignore some likely costs, ] the more realistic scenario is that the federal ] government will spend about $5 trillion more over the ] next 10 years than it takes in. ouch. |