President Obama's budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month.
The Congressional Budget Office figures, released Friday, predict Obama's budget will produce $9.3 trillion worth of red ink over 2010-2019. That's $2.3 trillion worse than the White House predicted in its budget...
The 2009 deficit, fueled by the $700 billion Wall Street bailout and diving tax revenues stemming from the worsening recession, is four times the previous $459 billion record set just last year.
The CBO's estimate for 2010 is worse as well, with a deficit of almost $1.4 trillion expected under administration policies, about $200 billion more than predicted by Obama.
No commentary needed. It speaks for itself.
Surprise, surprise.
Cap-and-trade originally estimted at $646 Billion. Guess what ?
http://www.washingtontimes.com/news/2009/mar/18/obama-climate-plan-could-cost-2-trillion/
Obama climate plan could cost $2 trillion.
That's with a T !
Posted by: Fred Gregory | March 21, 2009 at 12:40 AM
That's right, Fred. That is yet another feather for Obama to add to his cap if his intent is to destroy the nation's economy.
And we don't even know precisely what his health care plan will be as of yet.
I wonder if it is gradually becoming apparent to the American public the magnitude of the outright deception that took place during last year's campaign season.
Posted by: Joe Guarino | March 21, 2009 at 07:40 AM