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Obama used the old "rosy scenario" assumptions when putting together his budget - assumptions that did not jive with the CBO or any other entity. Sleight of hand, smoke and mirrors.
How else would he be able to justify the massive government expansion under his watch?
WASHINGTON (AP) — 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, obtained by The Associated Press 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.
Worst of all, CBO says the deficit under Obama's policies would never go below 4% of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5% of gross domestic product, a dangerously high level.
Where are all those leftist voices that used to whine and complain about bush's measly $400 billion deficit?
Great news for the liberals, eh? And this is the CBO, not a blog, not right wing, not left wing. Is this really what you voted for? $1 trillion deficits seen for next 10 years (http://news.yahoo.com/s/ap/20090320/ap_on_go_pr_wh/obama_budget - broken link)
Yep, it's a shame us libs have to mop up the mess GW left uh?
Obama used the old "rosy scenario" assumptions when putting together his budget - assumptions that did not jive with the CBO or any other entity. Sleight of hand, smoke and mirrors.
The budget projections were done in December and, while toward the upper end, they were within the range of other projections done at the same time. Lots of people have been telling you this. I guess you'd just rather not listen.
Quote:
Originally Posted by sanrene
How else would he be able to justify the massive government expansion under his watch?
I'll spell it out for you...
E-M-E-R-G-E-N-C-Y!!!
...one that Republican over-reliance on and over-confidence in laissez-faire free-market capitalism created for us...
The budget projections were done in December and, while toward the upper end, they were within the range of other projections done at the same time. Lots of people have been telling you this. I guess you'd just rather not listen.
I'll spell it out for you...
E-M-E-R-G-E-N-C-Y!!!
...one that Republican over-reliance on and over-confidence in laissez-faire free-market capitalism created for us...
The emergency here is the spending! BTW maybe you better call up Obama and let him know there is an emergency going on. He's out campaigning so I don't think he knows about it.
On a personal note, are you an American? I see that alot of the Obama supporters here aren't even Americans. I find that interesting. Just wondering if you call France home.
The emergency here is the spending! BTW maybe you better call up Obama and let him know there is an emergency going on. He's out campaigning so I don't think he knows about it.
On a personal note, are you an American? I see that alot of the Obama supporters here aren't even Americans. I find that interesting. Just wondering if you call France home.
Do you call that trailer park over in WhiteHall Home?
Yep, it's a shame us libs have to mop up the mess GW left uh?
You are very general and don't define mess. This thread is about deficits, so assuming mess is deficit related, I reinterate your message:
Bush left a $459B deficit which in your opinion is bad, something the libs have to clean up.
If I did not know your ideology better, I would assume based of the above logic that you would think Obama's projected $1.75B deficit for FY09, almost four times the deficit Bush left us, would be a bad thing too.
But I know your ideology is one of hypocrisy. And it becomes easy to conclude your new paradigm is that a $1.75B deficit is now somehow good, requiring no clean up.
Quote:
Originally Posted by petter orszag
... the deficit gets elevated which is not only natural, it's beneficial...
Peter Orszag
White House Budget Director
February 26, 2009
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