Saturday, March 21, 2009
Obama Deficit Soars Beyond Estimates
Do you Pbama Cultists ever tire of being caught in a consistent, steady, never ending series of lies? How many times can you Pbama Cultists be wrong before you take a rope, go into the garage, toss the rope over a rafter and...okay, you get the idea. These people live to lie. They don't even know they're lying. They believe that lies are the truth. This is Pbama's Orwellian World of Doublespeak that his Brainwashed and Brain Dead Pillow Biting Cultists observe without questioning.
U.S. Federal Deficit Soars Beyond Estimates. (And the story is from the Leftward-Leaning WaPo, so we know it must be true!):
Deteriorating economic conditions will cause the federal deficit to soar past $1.8 trillion this year and leave the nation wallowing in a sea of red ink far deeper than the White House had previously estimated, congressional budget analysts said today.
In a new report that provides the first independent analysis of President Obama's budget request, the nonpartisan Congressional Budget Office [CBO] predicted that the administration's agenda would generate deficits averaging nearly $1 trillion a year over the next decade -- $2.3 trillion more than the president predicted when he unveiled his spending plan just one month ago.
By the CBO's estimate, for example, the nation's debt would grow to 82 percent of the overall economy by 2019 under Obama's policies, compared with a pre-recession average of 40 percent.
Hey...how long before we hit a quadrillion?
But Barry plans to ignore the CBO analysis and keep right on spending. IHT:
President Barack Obama's budget would produce $9.3 trillion in deficits over the next decade, more than four times the deficits of Republican George W. Bush's presidency, congressional auditors said Friday.
The new Congressional Budget Office figures offered a far more dire outlook for Obama's budget than the new administration predicted just last month — a deficit $2.3 trillion worse. It's a prospect even the president's own budget director called unsustainable.
The dismal deficit figures, if they prove to be accurate, inevitably raise the prospect that Obama and his Democratic allies controlling Congress would have to consider raising taxes after the recession ends or else pare back his agenda.
By CBO's calculation, Obama's budget would generate deficits averaging almost $1 trillion a year of red ink over 2010-2019.
But Obama insisted on Friday that his agenda is still on track.
"What we will not cut are investments that will lead to real growth and prosperity over the long term," Obama said. "That's why our budget makes a historic commitment to comprehensive health care reform. That's why it enhances America's competitiveness by reducing our dependence on foreign oil and building a clean energy economy."
Obama's $3.6 trillion budget for the 2010 fiscal year beginning Oct. 1 contains ambitious programs to overhaul the U.S. health care system and initiate new "cap-and-trade" rules to combat global warming.
Have we reach a quadrillion yet?
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