Obama To Hike 10-Year Deficit to $9 Trillion

Reuters ^ | August 21, 2009 | Jeff Mason

[khnyny]

WASHINGTON (Reuters) - The Obama administration will raise its 10-year budget deficit projection to roughly $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.

"The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year," said the official, who is familiar with the plans.

"Our budget projections are now in line with the spring and summer projections that the Congressional Budget Office put out."

The CBO said in June that deficits between 2010 and 2019 would total $9.1 trillion. The official said the 2010-2019 cumulative deficit projection replaces the administration's previous estimate of $7.108 trillion.

[khnyny]

Friday news dump. Meanwhile, Obama is gettin' the heck out of Dodge.

[jessduntno]

Dump is right...this turd is going to flush our way of life in one term...

[Jet Jaguar]

Ping.

[mentor2k]

Let the printing press roll.

[johncocktoasten]

Destroying the credit of the United States Government is treason.

[TenthAmendmentChampion]

No one said it yet...

Bush’s fault!

[RatsDawg]

Remember a few years back when the Democrats were screaming about Bush and the Republicans deficit, and made campaign ads saying they would get all this under control, and the sheeple voted them in 2006, then again in 2008.

People who still have faith in these dweebs, should have rubber padded walls placed in their homes.

[tobyhill]

What ever happened to “cutting the deficit in half in 5 years”.

[ohioWfan]

Is anyone else numb? Our country GONE in 8 months.

[khnyny]

No one said it yet...

Bush’s fault!

Actually, they kinda did - the "spokesperson" blamed the new numbers on what transpired last fall and winter - lol.

[SunkenCiv]

budget deficit projection to roughly $9 trillion from $7.108 trillion

The Sock Puppet et al realize that FDR was actually *trying* to right the economy; the idea in the current administration is to wreck the parts of the economy over which it isn't going to take outright control in order to make sure there will never *be* a recovery.

[RatsDawg]

“In the real world he’s shutting America down, while Obama takes his bonus pay and jets off out of town.”

[SeattleBruce]

Actually, they kinda did - the “spokesperson” blamed the new numbers on what transpired last fall and winter - lol.
++++++++++++

And what do they blame it on next fall and winter. The socialists liars.

[upchuck]

"The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year," said the official, who is familiar with the plans.

Hey, unnamed source, far as I know, we ain't had winter this year. Unless maybe you're talking about the fiscal year. In which case you should say so. So you don't sound like a retarded asswipe.

[glock rocks]

"The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year," said the official, who is familiar with the plans.

Your BS is wearing pretty thin Bambo. The failed Obama administration continues its failed policies... Jiabao and Putin smile.

[SeattleBruce]

Is anyone else numb? Our country GONE in 8 months.
++++++++++++++

I’m glad you clearly CARE! Let’s not give up fighting! Soldier on!

Go Tea Partiers!!

[American Dream 246]

I agree with that! Not 4 years. Max 2 years and we are DEAD!!! plus having a muslim president - well, may be we will not have a attack again but we are loosing ALL our values for the east - they are winning big time using our own laws and we don’t budge!

So our dear America is already far gone and I unfortunately don’t believe the heroes in the townhall meetings are gonna change anything. The guy is a fascist muslim marxist. Put all that together and you have the perfect concoction for the true end of America!

Period.

He will pass anything he wants since he has the majority - he will protect shariah law because...he can

And voila.

I am crying right now.

[P-Marlowe]

Are they printing dollar bills on toilet paper rolls yet?

[DGHoodini]

...And the DemoPerv Fascist Wussies, go to the mattresses to hide from the American People!

[ConservativeMan55]

bttt

[Amityschild]

Explains why Turbo Tax Cheat Tim requested the increase in the debt limit. The UNSPECIFIED increase.

Great Friday dump. Superb.

[khnyny]

Are they printing dollar bills on toilet paper rolls yet?

No, not yet, but that's only 'cause the White House sent their surplus TP to Cuba. Good timing - the main bs'ers are out of town.

[Grunthor]

“Obama To Hike 10-Year Deficit to $9 Trillion”

Is this before or after Obomba takes over healthcare?

[Bushbacker1]

No, not yet, but that's only 'cause the White House sent their surplus TP to Cuba.

Not to mention a couple of BILLION dollars sent to Brazil so they can drill for oil off of their coast!

[WOSG]

“What ever happened to “cutting the deficit in half in 5 years”. “

This is why they raced to triple the deficit first.

‘I was for trillion-dollar deficits before I was against it.’

[Terry Mross]

It’s okay to have a deficit if it’s to “spread the wealth around”.

[joejm65]

‘Destroying the credit of the United States Government is treason.’

Another good reason for the government to take over health care, right? It’s gonna save money, just like Fannie/Freddie, Amtrak, the Post Office. This news of an extra $2 trillion over 10 years should all but destroy any chance of Deathcare being passed. It won’t, but it should...

[BradtotheBone]

http://usdebtclock.org

[EGPWS]

The Obama administration will raise its 10-year budget deficit projection to roughly $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.

Does anybody really know what time it is?

Does anybody really care?

[TMA62]

“The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year,” said the official, who is familiar with the plans.”
__________________________________________________________

Sounds like they are trying to blame Bush for this. It aint gonna work. Look at ALLLLLLLLLLL the spend Hussien and the DUMS have proposed and passed this year alone. It is on THEM. They inherited problems but they have made them a hell of alot worse!!

[rahbert]

when his party runs him out of town, to where will he
flee into exile? kenya? france?

[ichabod1]

They didn’t even pretend to be serious about anything they were sayig.

[Nachum]

Thanks for the heads up Jet Jaguar

The list, ping

[newfreep]

Does anybody really know what time it is? Does anybody really care?

The time is 25 or 6 to 4.

[ichabod1]

And he will NEVER give up power.

[indylindy]

I think it is time for us to stop helping them out by saying that.

[ichabod1]

Sheeeit. They made the problems that they’ve inherited in order to steal the WH. Inherited don’t cut it. We been colonized and couped, dude.

[SC DOC]

Somebody needs to reset the clock.

[KansasGirl]

Wasn’t the deficit only around $500 billion when Bush left office?

[Bushbacker1]

Consider this: With the employment of folks dropping and the revenues going to the feds, dropping, the deficit will reach more than 15 trillion! There isn't enough rich folks in the world to cover this increase in the deficit!

[KansasGirl]

So can we now call Obama’s stimulus a FAILURE and dump this idea to create a MASSIVE new healthcare ENTITLEMENT!!

[Bushbacker1]

With the employment of folks dropping...

Meant to say: With the employment of folks increasing...

Friday evening and the Scotch has effected my mind/finger coordination.

[PhiKapMom]

I agree with you — that shouldn’t be stated again on here — let the RATs own everything.

[Bushbacker1]

Hell, I don’t know what I meant to say. Unemployment keeps going up. There!

[ding_dong_daddy_from_dumas]

Wasn’t the deficit only around $500 billion when Bush left office?

Not sure but Obama not only voted for the TARP, he was one of its main cheerleaders.

[khnyny]

We know what you meant! It’s happy hour - cheers!

Let’s see:

unemployment
property taxes down, down, down
corporations fleeing the US
retail sales tax dropping - (no one’s buying anything)
6B being sent to Brazil for Soros funded oil companies, etc., etc.

Quick - I need another glass of wine.:) (preferably red)

[razbinn]

[Portnoy]

I was talking with a co-worker today about the Friday News Dump and wondered what it would be this week.

Too Funny....!

[SirJohnBarleycorn]

[AGreatPer]

I am putting in sell orders on most of my stocks.

Will admit, I can't stand it in the kitchen.