Posted on 08/25/2009 8:02:19 AM PDT by Kartographer
The US economy will shrink far more than expected this year and will rebound much more slowly than forecast after that, according to a bleak new assessment by the White House Budget Office.
Th federal government also faces exploding deficits and mounting debt over the next decade, far worse than what the Obama administration had estimated just a few months ago.
(Excerpt) Read more at cnbc.com ...
Yep! You gotta run up a $2 trillion per year budget deficit to “fix” the last Republican Congress’ budget deficit of fiscal 2007 of $160 billion. Make sense to me. /s
I’m shocked...shocked I tell you!
Slash tax rates and slash the central government to ribbons. Then move it Nebraska.
You are the biggest joke of a President this country has ever known. You and your administration together
It’s all just so “unexpected”!!
...waiting for the Captain Obvious to appear...
I thought Obama told us that tax cheat Timmy was the only genius who could fix the economy. Now, they are telling us he’s an idiot who doesn’t know what he is doing?!
0 is not a good advertisement for Harvard. LOL
Soooo...I guess we need government takeovers now more than ever?
Beware: they will probably try to paint as bleak a picture of the economy as possible, so that when things improve or won’t be as bad as their forecasts, they will be able to claim credit for it. For example, they could predict that unemployment will be 14-16% by next year. But, if it only reaches 12-13% that would be because the Annointed One took forceful action and his policies worked!
That’s because there is an expectation that the Fed will need to lower interest rates to -2%. LOL.
Beware: they will probably try to paint as bleak a picture of the economy as possible, so that when things improve or won’t be as bad as their forecasts, they will be able to claim credit for it. For example, they could predict that unemployment will be 14-16% by next year. But, if it only reaches 12-13% that would be because the Annointed One took forceful action and his policies worked!
Don’t worry, we’re in for a crackerjack of a correction.
How much? Oh, 15 or 20%. At current levels on the Dow, that would place the index at somewhere between 8160 to 7680.
So, hang in there, and Mr. Obama, I hope your folks can add and subtract better when it comes to budget time next year.
Geesh. What a bunch of putzes.
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