Posted on 03/05/2010 6:28:17 PM PST by NormsRevenge
WASHINGTON – A new congressional report released Friday says the United States' long-term fiscal woes are even worse than predicted by President Barack Obama's grim budget submission last month.
The nonpartisan Congressional Budget Office predicts that Obama's budget plans would generate deficits over the upcoming decade that would total $9.8 trillion. That's $1.2 trillion more than predicted by the administration.
The agency says its future-year predictions of tax revenues are more pessimistic than the administration's. That's because CBO projects slightly slower economic growth than the White House.
The deficit picture has turned alarmingly worse since the recession that started at the end of 2007, never dipping below 4 percent of the size of the economy over the next decade. ..
(Excerpt) Read more at news.yahoo.com ...
Gee,, who’s been holding the pursestrings since 2007? hmmm
No, that is not a trick question.
The libs want to raise taxation and spending with measures that KILL TAX REVENUES. They never have figured this out...
I’m thinking after the Nov. elections, Americans need to get serious in demanding cuts in the size and scope of federal, state and local governments.
Government is getting too damn big. A man can barely inhale without having to pay a tax, levy, fee, or surcharge.
This is getting major spooky. Only the American people can change this, our elected officials are NOT listening.
No matter how many tea parties, town halls, marches on D.C., they are not listening.
We should amend the Constitution to allow for politicians to be charged with fraud(or something) if their budget estimates don’t work out after they have left office.
‘RAT screwup extended the Great Depression. This time, it looks as though they want to make it permanent.
I’m sorry to inform the American people that we are busted, and they still don’t understand.
“I’m thinking after the Nov. elections, Americans need to get serious in demanding cuts in the size and scope of federal, state and local governments.”
We can demand until we’re blue in the face. I fear the only way this spending gets under control is when the folks who are lending the money simply stop doing so. Then there will be no other choice.
We all knew that Jack Squat Barry and his administration have long been manipulating numbers, whether they be budgetary, econonmic, etc. This should be no surprise to anyone. As such, consider Jack Squat Barry and the White House’s alleged healthcare cost numbers, etc. =.=
"This is entirely the fault of Congress. And when the next crisis I engineer hits, that'll also be entirely the fault of Congress."
Best bumper sticker this week...Brilliant.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
