Obama Budget Relies On Optimistic Economic Forecast

03/29/2009 05:12 am ET | Updated May 25, 2011

Rosy's back.

The famed Rosy Scenario, coined in the early days of the Reagan White House when large tax cuts and higher defense spending were assumed to be paid for in part by strong economic growth, is a cornerstone of the Obama administration's first multiyear budget.

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