Posted on 03/05/2010 2:53:56 PM PST by mojito
President Barack Obama’s budget proposal would generate bigger deficits than advertised each year for the next decade, with the 10-year shortfall totaling $1.2 trillion more than the administration estimated, according to the Congressional Budget Office.
The nonpartisan CBO, in an annual analysis of the White House budget proposal, said today that under Obama’s plan deficits would never shrink below 4 percent of the economy between now and 2020. The cumulative deficits would total $9.76 trillion, and debt held by the public would amount to 90 percent of the nation’s gross domestic product by 2020, the CBO said.
By 2020, the federal debt would grow to $20.3 trillion under Obama’s budget, according to CBO.
(Excerpt) Read more at businessweek.com ...
Funny. Obama’s stooges were all over the TV yesterday siting CBO stats as proof Obamacare was “paid for”.
I will not hold my breath for the MSM to tell the truth.
“unexpectedly”
Obama is a stark raving Madman Terrorist who is destroying Our AMERICA at Warp 9 Speed! He does Not qualify as a Traitor because he most probably has never been an American!
Hmm. Dept of labor’s budget doubled last year.
I would say that the CBO has also underestimated it by a couple trillion dollars.
When you factor in the unfunded liabilities for Medicare and Social Security, the national debt is closer to $56 TRILLION.
http://www.pgpf.org/about/nationaldebt/
He won’t be president in 2020, so he doesn’t care...just like Clinton, whatever is the outcome of the damage he did, will fall on others....
Just laying the groundwork for more “unexpected” financial news in the future!
Well, Government HAD to hire people to find the rest of us jobs, right?
*SMIRKT*
ACORN & SEIU.
Probably all those Census workers, too? ;)
$1.2 trillion is just noise in the real figure.
I am unexpectedly shocked...no really I am....bwahahahaha. /yes I am...
Don’t you think the one is worth killing America for? What’s wrong with you extremist self?/s/
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.