Posted on 07/23/2010 12:10:35 PM PDT by Free ThinkerNY
WASHINGTON (AP) -- The White House says the government is now borrowing 41 cents of every dollar it spends.
New estimates predict the unemployment rate will average 9 percent next year and the budget deficit will be $1.42 trillion - even bigger than previously expected.
(Excerpt) Read more at hosted.ap.org ...
I’m sure Obama has another stimlus package planned to claim this is how we need to get out of it.
The Founding Fathers would have tarred and feathered “leaders” like this and run them out of town.
Washington, D.C. is full of traitors. When will the American people take their country back?
Hmmmm. Maybe I misunderstood this article but I thought they are predicting the *next* fiscal year, not this one that is ending soon.
anyone else remember the bumper stickers during the Bush years that said “annoy a conservative, balance the budget”?
Hey, some GOOD news for a change. /sarcasm.. The progressives are celebrating the downfall of our republic through economic collapse, awaiting reset as a Marxist dictatorship in 2012 just before the presidential election that isn’t going to happen.
I’m sorry if I sound like a broken record, but I’ve ran out of words. Everything I read from these sick bastards makes me shake my head and scream, IDIOTS! Obama and his ilk are the scum of the earth. Freaking un-American Marxist idiots on parade!
We are on the right track.
Obama 2010
They are still misunderestimating their deficit- I’ve got to believe their prognosticated tax revenues are waaaay too optimistic for what they will receive.
Guess who has already gone Galt and is producing less income and less tax revenue for lord obama next year?
mmmm. mmm. mmmm.
I feel ill.
...and the Democrats are 100% responsible for it. Attack, Republicans, attack!
Of course half of that inherited Bush deficit was....TARP
700 Billion was TARP
and half of that was handed to obama’s team in January 2009, 2 weeks before he was installed
And much of the “Bush deficit” TARP was paid back ..... with interest... and certain banks were not “allowed” to pay back their TARP...
http://www.slate.com/id/2226517/
http://www.nj.com/business/index.ssf/2009/12/banks_have_repaid_half_of_tarp.html
http://dealbook.blogs.nytimes.com/2009/06/17/jpmorgan-repays-treasury-as-tarp-exits-continue/
oh, never mind
Just remember the names of those who spent us into oblivion..
I’m going to go out on a limb and predict the actual deficit will be over 2 trillion, because the unemployment figures are higher than they are willing to admit even to themselves
tax revenues will be much less that they are figuring
people witl jobs and money will be hoarding it, not spending it and creating growth, in anticipation of the greatest tax hike in American history
Capital gains tax revenue should virtually die starting in 2011- the only growth industry will be tax avoidance schemes, watch for the ones used by rich shysters like Geithner, Kerry, Emmanuel
tax revenues will be much less that they are figuring
people with jobs and money will be hoarding it, not spending it and creating growth, in anticipation of the greatest tax hike in American history
Capital gains tax revenue should virtually die starting in 2011- the only growth industry will be tax avoidance schemes, watch for the ones used by rich shysters like Geithner, Kerry, Emmanuel
You’re certainly right that there is NO WAY the number is going to be equal to or less than this estimate. How many more MSM articles are we going to see about “unexpected” deficit levels, unemployment, etc., etc.?
Borrowing 41 cents (minimum!) of every dollar, yet the MSM and Dems see the Tea Party movement as a bunch of racist nuts. God help us.
Why do I get the feeling that the high unemployment of 2010 will be looked at as the “good old days” in a few years?
I am afraid you are going to be proven correct. Prognostications are still far too rosy.
And how would we maintain anything resembling a federal economy without it?
If this is the White House prediction, double it then it will be closer.
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