Budgetary myths and realities 

Just as the administration’s more optimistic assessment on Iraq is open to serious question, so is the proposed budget for fiscal year 2008, with its projected deficit of $ 240 billion. There’s not much in the proposal that is realistic or achievable, and balancing the budget in the coming years is not likely to be attained based on the realities of this plan.

Realities overshadow what is called “ realistic, ” but realism has been in short supply in Washington. The budget proposal is based on a number of dubious assumptions and questionable projections. Let’s begin with some of the more obvious omissions and underestimations.