CBO report: Debt will rise to 90% of GDP (Congress, Obama, leader)

[doctorhugo]

By David M. Dickson
President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

In its 2011 budget, which the White House Office of Management and Budget (OMB) released Feb. 1, the administration projected a 10-year deficit total of $8.53 trillion. After looking it over, CBO said in its final analysis, released Thursday, that the president's budget would generate a combined $9.75 trillion in deficits over the next decade.


"An additional $1.2 trillion in debt dumped on [GDP] to our children makes a huge difference," said Brian Riedl, a budget analyst at the conservative Heritage Foundation. "That represents an additional debt of $10,000 per household above and beyond the federal debt they are already carrying."

The federal public debt, which was $6.3 trillion ($56,000 per household) when Mr. Obama entered office amid an economic crisis, totals $8.2 trillion ($72,000 per household) today, and it's headed toward $20.3 trillion (more than $170,000 per household) in 2020, according to CBO's deficit estimates.
(story continues)
Source: http://www.washingtontimes.com/news/2010/mar/26/cbos-2020-vision-debt-will-rise-to-90-of-gdp/
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Welllllll..., thank you Great Leader! Your plan is working and we're well on our way to financial ruination. No amount of phony new agendas, name-calling of adversaries and attempts to change the subject will sate the peoples' collective anger come November. Despite all your denials to the contrary demonRATic heads will roll and won't it be fun keeping the count.

(Cue - Enter stage left_ demonRATs dragging an effigy of Little Georgie-boy Bush to lash to the whipping post. Crowd applauds.)

[Vladja]

Your point? Cons always become fiscal conservatives when they are out of power.

[doctorhugo]

Originally Posted by Vladja

Your point? Cons always become fiscal conservatives when they are out of power.

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Why do I have to restate the obvious. You can read. He, YOUR Great Leader (not mine)...on his own and of his on doing is leading us down the path to financial ruination. Your response above is a weak and pitiful attempt to ignore reality and divert attention from the truth. You should really endeavor to be a bit more intellectual in your responses.

In addition your *ss-umption is incorrect. and obviously an attempt to grasp at something...anything, to make a comeback. I'm a real conservative...period. That means in ALL things AND at ALL times. Get it!. Being in power or out of power is irrelevant as principles don't change with one's political stature. Of course, when I speak of principles I do realize I've broached an alien subject for demonRATs.