Center on Budget and Policy Priorities to Hold Conference Call Briefings on New CBO Deficit Forecasts

3/10/2003

From: Toni Kayatin or Henry Griggs, 202-408-1080, both of the Center on Budget and Policy Priorities

News Advisory:

-- Navigating a Sea of Red Ink: Congress Should Consider New CBO Deficit Forecasts, Hidden Costs in its Budget Deliberations

WHAT: Conference Call Briefings

WHEN: Tuesday, March 11, 11 a.m. and 2:45 p.m., (ET)

with: -- Bob Bixby, executive director, Concord Coalition -- Robert Greenstein, executive director, CBPP -- Everett Ehrlich, senior vice president and director of research, CED, 11 a.m. call only -- Van Doorn Ooms, senior fellow, CED, 2 p.m. call only

The Center on Budget and Policy Priorities will hold conference call briefings Tuesday, March 11 at 11 a.m. and 2:45 p.m. (ET) in conjunction with the Concord Coalition and the Committee for Economic Development (CED) to discuss the growing threat that federal lawmakers will pursue polices that aggravate rather than address the serious long-term deficits the nation faces. Last week CED, a respected blue-ribbon organization of 250 corporate leaders and educators, issued a major report analyzing the nation's budgetary situation. The report warned of potential significant danger over time to the economy from large deficits and called on policymakers to "stop digging the hole deeper." Last week, the Congressional Budget Office also issued an analysis showing that deficits will total $1.8 trillion over the next ten years under Administration policies. The CBO forecasts also show that tax cuts and program increases in the President's budget would cost a total of $2.7 trillion over the next ten years, turning a projected $0.9 trillion net surplus over this period (in the absence of any tax cuts or program increases) into $1.8 trillion in deficits.

The new forecast, as well as new analyses from CBPP and Concord, come just days before Congressional Budget Committees are slated to begin deliberations on the President's budget this Wednesday, March 12. After presenting their analyses, these individuals will respond to questions.

To join the call at 11 a.m. (ET) or 2:45 p.m. (ET), please provide the following information:

NAME: AFFILIATION: PHONE: (The operator will reach you at your desk) FAX/E-MAIL:

To participate, please e-mail kayatin@cbpp.org, or call Toni Kayatin at (202) 408-1080.