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What the CBO Projected in 2008 (Re: Deficits)
www.yossigestetner.com ^ | 8/3/2010 | Yossi Gestetner

Posted on 08/04/2010 11:16:10 PM PDT by goods

I know, I know: Bush and the Republicans Congress gave us deficits. But in early 2008, when BUSH was President, the Congressional Budget Office (p. 20) estimated that from budget year 2009 through 2013, the US will add a TOTAL of $408 Billion in deficits. But two years later, and we are looking at a total $6.2 TRILLION added deficits, which is FIFTEEN times worse than the CBO projected in early 2008.

FURTHERMORE: In September of 2008, a year after the Dem Congress passed their first budget, and just months after they passed some of the 2009 expenditures, the revised five-year budget projection of the CBO was a TOTAL of $1.4 trillion in added deficits, NOT $1.4 trillion that we have now on an ANNUAL basis.

Here are the annual numbers:

2009 $1.4 trillion in the red.

2010 $1.47 trillion in the dumps.

2011 $1.4 projected minus (by the White House).

2012 and 2013, $1 trillion dollar down a piece.

Now, THIS is the diff between the Republican - "Bush's Fault" - years, to the Pelosi/Reid/Obama years...

Links:

Early 2008 CBO Projection: http://www.cbo.gov/ftpdocs/89xx/doc8917/01-23-2008_BudgetOutlook.pdf September 2008 CBO Projection: http://www.cbo.gov/ftpdocs/97xx/doc9706/Selected_Tables.pdf


TOPICS: Business/Economy; Chit/Chat
KEYWORDS: bush; debt; deficits; obama

1 posted on 08/04/2010 11:16:13 PM PDT by goods
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To: goods

CBO is an utter joke.......filled with guberment idiots....


2 posted on 08/05/2010 7:18:29 AM PDT by cranked
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