Mid-Session Budget Deficit Review

At a budget briefing this morning, OMB Director Leon Panetta, OMB Deputy Director Alice Rivlin, and Chairman of the National Economic Council Robert Rubin… read more

At a budget briefing this morning, OMB Director Leon Panetta, OMB Deputy Director Alice Rivlin, and Chairman of the National Economic Council Robert Rubin presented the new deficit numbers of the mid-session review. The mid-session review estimates the deficit for 1994 will be $220 billion, or $85 billion below what the Administration had projected. For 1995, the Administration had projected a deficit of $302 billion, and had estimated that it would be able to reduce the deficit to $176 billion. The mid-session review estimates the deficit for 1995 will be $167 billion, almost $135 billion less than the Administration projected. “Over the 5 years covered by the President’s original plan, the deficit has been reduced not just by the $500 billion that we had passed by the Congress last year in the deficit reduction plan, but by a total of almost $691.7 billion,” said Panetta. close

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Mid-Session Budget Deficit Review

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Program ID:
58609-1
Category:
White House Event
Format:
News Conference
Location:
Washington, District of Columbia, United States
First Aired:
Jul 12, 1994 | 7:06pm EDT | C-SPAN 2
Last Aired:
Jul 13, 1994 | 3:04am EDT | C-SPAN 1

Airing Details

  • Jul 12, 1994 | 7:06pm EDT | C-SPAN 2
  • Jul 13, 1994 | 3:04am EDT | C-SPAN 1
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Mid-Session Budget Deficit Review

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