CBO estimates $10,000,000,000,000 deficit

[Quantum Windbag]

Move along, nothing to see here.

A new assessment of President Barack Obama's budget released Friday says the White House underestimates future budget deficits by more than $2 trillion over the upcoming decade. The estimate from the nonpartisan Congressional Budget Office says that if Obama's February budget submission is enacted into law it would produce deficits totaling $9.5 trillion over 10 years—an average of almost $1 trillion a year.
Obama's budget saw deficits totaling $7.2 trillion over the same period.
The difference is chiefly because CBO has a less optimistic estimate of how much the government will collect in tax revenues, partly because the administration has rosier economic projections.

CBO: Obama understates deficits by $2.3 trillion

 

[G.T.]

So it's not the 14 trill hannity and rush have been whining about for a couple years now?

 

[G.T.]

 

[Meister]

Of course you don't....your a liberal, and deficits mean nothing.

 

[xsited1]

So it's not the 14 trill hannity and rush have been whining about for a couple years now?

The plus sign is your friend:

+

 

[G.T.]

Of course you don't....your a liberal, and deficits mean nothing.

 

[Quantum Windbag]

So it's not the 14 trill hannity and rush have been whining about for a couple years now?

I guess that depends on what they are including, doesn't it? Since the CBO does not count Social Security in their estimate of the budget deficit, just the numbers that Obama gives them, it is more than possible that Beck and Hannity are being overly optimistic about how small the debt is themselves.

 

[G.T.]

So it's not the 14 trill hannity and rush have been whining about for a couple years now?

I guess that depends on what they are including, doesn't it? Since the CBO does not count Social Security in their estimate of the budget deficit, just the numbers that Obama gives them, it is more than possible that Beck and Hannity are being overly optimistic about how small the debt is themselves.

I guess this is all the Dems and the poor's fault, and the Conservative values must be upheld to better our society, ehh?

 

[Oddball]

 

[G.T.]

Self made man right there. How you?

 

[bucs90]

Is it safe to say that we're just fucked? I mean really, no matter who we elect, we're screwed. There is a huge cliff somewhere that our nation is gonna fall off of. Better have lots of stored food, ammo, gas, soap, clothing, a bicycle, playing cards, etc, etc, etc. Soon we'll be living like the people in North Korea. Maybe 20 years. Maybe 40. But American superiority is a dying breed.

 

[Mr Natural]

Only $10,000,000,000,000!

Heck, pillage and plunder a few small wealthy nations and we can have that paid off in no time.

 

[boedicca]

Get ready for a big old Heapin' Helpin' of Stagflation!

 

[Oddball]

Self made man right there. How you?

"Self made" like Chance the gardener.

 

[G.T.]

Is it safe to say that we're just fucked? I mean really, no matter who we elect, we're screwed. There is a huge cliff somewhere that our nation is gonna fall off of. Better have lots of stored food, ammo, gas, soap, clothing, a bicycle, playing cards, etc, etc, etc. Soon we'll be living like the people in North Korea. Maybe 20 years. Maybe 40. But American superiority is a dying breed.

You don't really know any better. You shill for the right, yet the right.............for all its noble efforts to "preserve liberty!" (code name: keep taxes lowwww on rich people)

end up being upset with our programs to help our poor, mad at our programs that tax the rich........yet the rich...

and you know this is true...

are RICHER THAN EVER BEFORE.




Your kind keeping your heads in the sand about it, isn't exactly helping things. The tax cuts, the BIGGER THAN EVER SALARIES, have not caused hiring, either. What's the fucking next step? Cut more poor and middle class people off of programs that help? Good idea!

 

[G.T.]

Self made man right there. How you?

"Self made" like Chance the gardener.

oH, YEA, since birth he's had shit handed to him. You're right, bitter old one.

 

[The T]

Move along, nothing to see here.

A new assessment of President Barack Obama's budget released Friday says the White House underestimates future budget deficits by more than $2 trillion over the upcoming decade. The estimate from the nonpartisan Congressional Budget Office says that if Obama's February budget submission is enacted into law it would produce deficits totaling $9.5 trillion over 10 years—an average of almost $1 trillion a year.
Obama's budget saw deficits totaling $7.2 trillion over the same period.
The difference is chiefly because CBO has a less optimistic estimate of how much the government will collect in tax revenues, partly because the administration has rosier economic projections.

CBO: Obama understates deficits by $2.3 trillion

Lest we forget last year's jobs bonanza 'Summer Of Recovery'?

 

[Meister]

Self made man right there. How you?

"Self made" like Chance the gardener.

oH, YEA, since birth he's had shit handed to him. You're right, bitter old one.

I forget....what trade school did obama graduate from?

 

[Charles_Main]

So it's not the 14 trill hannity and rush have been whining about for a couple years now?

There are several Figures used to describe our Debt. Public vs Private etc etc.

The Total Debt owed at this point is in fact approaching 15 Trillion.

5 Trillion added since Obama took office.

Wrap your Head around that brainiac.

This story is about Estimating the Debt we will add over the Next 10 Years, and has nothing to do with Debt we already owe.

What they are saying is that Obama is estimating (at spending levels he has given us) that we will add 7.5 Trillion MORE debt to the current almost 15 Trillion in 10 years. The CBO is saying he is off by almost 2.5 Trillion and at current levels we will add 10 Trillion to the Debt in 10 Years putting us at 24 Trillion by 2018.

if that ends up being true you will be looking at nearly 15 Trillion in New Debt added by BHO in 10 years.

WOOO HOOO!!

 

[G.T.]

So it's not the 14 trill hannity and rush have been whining about for a couple years now?

There are several Figures used to describe our Debt. Public vs Private etc etc.

The Total Debt owed at this point is in fact approaching 15 Trillion.

5 Trillion added since Obama took office.

Wrap your Head around that brainiac.

Wrap your head around this:

Conservatives are the 1st to cry our country is broke.
Conservatives are the 1st to protect the rich keeping more and more.
The rich have more than ever.
The country is broker than ever.

ABSOLUTELY NO CORRELATION EH? NONE.