The Mid-Session Review is a mixed bag, but on the whole, nothing to cheer about. While it shows modest improvement in the 2007 deficit, the deficit for 2008 grows worse by $54 billion. Relative to February’s estimates, there is slippage for every year starting with 2008. While the Administration may tout a bottom line of the budget that improves in the out-years, past Administration claims of progress have depended on omitted costs or optimistic assumptions. That’s why the Congressional Budget Office’s assessment of the President’s budget in March concluded the President’s budget never reached balance, contrary to Administration claims.

For the Bush Administration, these numbers are a reminder that this is another mission not yet accomplished.