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HOUSE BUDGET COMMITTEE CHAIRMAN SPRATT ISSUES STATEMENT ON ADMINISTRATION'S MID-SESSION REVIEW OF BUDGET

The House Budget Committee issued the following statement:

House Budget Committee Chairman John Spratt (D-SC) issued the following statement on the new White House budget forecast.

"This Mid-Session Review may be the Administration's last summation of its budget, and even though it gets to write its own report card, the grades are not good.

"The MSR is laden with numbers, but this is its bottom line, this in a nutshell is this Administration's legacy: Mr. Bush entered office with the biggest surpluses in history and leaves with the biggest deficits.

"According to OMB, the deficit next year (Fiscal Year 2009) will be the largest in history, $482 billion, in nominal terms; and the deficit for ...

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