CBO Shows Obama's RECORD Deficits over Next Decade...

Discussion in 'Current Events' started by mal, Mar 5, 2010.

  1. mal
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    mal Diamond Member

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    National debt to be higher than White House forecast, CBO says

    By Lori Montgomery
    Washington Post Staff Writer
    Saturday, March 6, 2010


    President Obama's proposed budget would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday. Proposed tax cuts for the middle class account for nearly a third of that shortfall.

    The 10-year outlook released by the nonpartisan Congressional Budget Office is somewhat gloomier than White House projections, which found that Obama's budget request would produce deficits that would add about $8.5 trillion to the national debt by 2020.

    The CBO and the White House are in relative agreement about the short-term budget picture, with both predicting a deficit of about $1.5 trillion this year -- a post-World War II record at 10.3 percent of the overall economy -- and $1.3 trillion in 2011. But the CBO is considerably less optimistic about future years, predicting that deficits would never fall below 4 percent of the economy under Obama's policies and would begin to grow rapidly after 2015.

    washingtonpost.com

    ^I am Sure that's Dubya's Fault too...

    :)

    peace...
     
    Last edited: Mar 5, 2010
  2. mal
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    mal Diamond Member

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    ^Conveniently "Reported" on by his LapDog Media on Saturday in the WEEEEE Hours of the Morning...

    :)

    peace...
     
  3. Ame®icano
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    Ame®icano Gold Member

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    Don't look at the additional $9.7 trillion of debt. Just think about $100 billion that healthcare suppose to save us.
     
  4. mal
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    mal Diamond Member

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    And Millions of Jobs we didn't Lose!...

    Ha!, so there!

    :)

    peace...
     
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  5. Xenophon
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    Xenophon Gone and forgotten

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    We will need healthcare with all the heartattacks that debt will cause.
     
  6. mal
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    mal Diamond Member

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    I plan on having one... ;)

    :)

    peace...
     
  7. uscitizen
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    uscitizen Senior Member

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    Doesn't this CBO projection also include all of the previous budgetary costs from previous presidents?

    Or is every bit of that projected defecit coming about because of Obama's 2010 budget?
     
  8. mal
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    mal Diamond Member

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    Take it up with Author of the Story...

    :)

    peace...
     
  9. rightwinger
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    rightwinger Award Winning USMB Paid Messageboard Poster Gold Supporting Member Supporting Member

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    How are they Obama's deficits for years he will not even be in office? We might just as well call them Bush's deficit due to the impact of his two wars and using tax cuts to pay for them
     
  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    It's $1.2T worse than what Obama claimed it would be a very short time ago.

    If he can't get this right, we should we trust his economic forecasts about ANYTHING?

    He is one of the biggest economic illiterates in DC, and that is not a very high standard.
     

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