Andy
Well-Known Member
- Joined
- Jan 6, 2008
- Messages
- 3,497
Deteriorating economic conditions will cause the federal deficit to soar past $1.8 trillion this year and leave the nation wallowing in a sea of red ink far deeper than the White House had previously estimated, congressional budget analysts said today.
Huh... the deficit under Bush was $400 Billion. Now the deficit is $1.8 Trillion? This must be part of Obama's new "hope and change". I already hope we change who's president.
By the CBO's estimate, for example, the nation's debt would grow to 82 percent of the overall economy by 2019 under Obama's policies, compared with a pre-recession average of 40 percent.
CBO btw, is Congressional Budget Office. Do tell who is in control of Congress right now? Point being, I highly doubt these are inflated numbers by 'evil republicans' trying to bring down the messiah.
Senate Budget Committee Chairman Kent Conrad (D-N.D.) has said the gloomier CBO forecast would require "adjustments" to Obama's budget, though he declined to specify what changes would be necessary. To reduce the deficits, Democrats could dial back Obama's spending plans or find new sources of revenue.
Dial back Obama's spending plan? Not a chance! He's wonderful, all knowing, brilliant teleprompter reader that will fix everything! Right? So I guess it's new sources of revenue... taxes baby! They are on the way!
U.S. Federal Deficit Soars Past Previous Estimates
Really? Soars past estimates? No kidding? I'm shocked... really.