Obama’s Deficit Projections Off by $2.3 Trillion, Congressional Budget Office Says

CNS ^ | 3/24/09 | Matt Cover

[pissant]

(CNSNews.com) – The nonpartisan Congressional Budget Office (CBO) says that President Obama’s budget and deficit projections are too low. The president’s budget will incur $9.3 trillion in federal deficits between 2010 and 2019 --$2.3 trillion higher than Obama had originally claimed.

The CBO’s latest analysis, released Friday, showed that the president’s proposed budget will increase the deficit to $1.8 trillion in 2009; $1.4 trillion in 2010; and $970 billion in 2011 -- falling to $658 billion in 2012 before rising again to $1.2 trillion in 2019.

The total deficit from 2010 to 2019 was pegged at $9.3 trillion. The deficit is nort expected to fall below a floor of $500 billion for the foreseeable future, the report pointed out.

[pissant]

Just a minor rounding error, I'm sure.

[technically right]

Close enough for government work.

[Ev Reeman]

If one even bothers to do the math, Obummer’s rosy economic and financial projections do not hold water. In fact they are so optimistic as to make one wonder whether this guy ever stopped smoking dope. Taxing the hell out of everybody is not gonna help either. Its already started beginning with the states who have overspent their way into oblivion. Just wait till all those fed taxes kick in.

[Ev Reeman]

If one even bothers to do the math, Obummer’s rosy economic and financial projections do not hold water. In fact they are so optimistic as to make one wonder whether this guy ever stopped smoking dope. Taxing the hell out of everybody is not gonna help either. Its already started beginning with the states who have overspent their way into oblivion. Just wait till all those fed taxes kick in.

[andy58-in-nh]

A few trillion here, a few trillion there... pretty soon you're talking real money.

Okay, pop quiz: how many seconds have ticked by in the last 100 years?

A: approximately 3.15 billion (3,155,760,000).

How many years has it taken for the last trillion seconds to elapse?

A: 31,688 years (or approximately 20,000 years prior to the last Ice Age). Think we're screwed?

[paulycy]

$2,300 billion. Bill Gates is worth around 50.

[GeronL]

leftists don’t care about no steenkin details

[JustSurrounded]

I can't help it ... I have to do the math. Do I have this right? There are nearly 100million individual taxpaying tax returns. $9.3T / 100M = $93,000. That's nearly $10,000 per tax payer/family every year for the next 10 years to pay this off. (Not counting inflation, depression, war, further panic stimulus.)

With horror, I'm thinking the choices are fast becoming only slavery or blood.

[kidd]

All the gold in the world would fit into a cube that is 22 meters on a side. Thats 193,000 metric tons. (source: http://www.usgs.gov/faq/list_faq_by_category/get_answer.asp?id=89)

At $930/troy ounce, all the gold in the world has a value of $5.8 trillion

So Obama is off by only a third of all the gold in the world

[Logical me]

How much the deficit is off means nothing. King Obama has taken over and now commands the beginning of a dictatorship. He is a hard core communists and the economic issues are being used to enslave all of industry. His next step will be to start his brown shirt squad since he cannot trust the military. This is the most dangerous time America has seen in all it’s history. And looks like by this summer the nail will be in the coffin and we will be a dictatorship.

[Vaduz]

By $9.3 trillion