Well that's just ducky.

The Congressional Budget Office today released calculations showing that if the tax breaks that President Bush signed in 2001 and 2003 are extended beyond their 2010 sunset - and if middle-class relief from the Alternative Minimum Tax continues unabated - the nation will face a $6.3 trillion deficit by 2018, which would be roughly 3.5 percent of gross domestic product. That, Democratic lawmakers say, would be enough to hamstring government operations. "Under administration policies, the $5.6 trillion surplus projected in 2001 has collapsed and been replaced by record deficits," said House Budget Chairman John Spratt (D-S.C.) in opening remarks at his panel's hearing on the CBO fiscal outlook.

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