What The CBO Is Now Saying

[Claudette]

How I wish Obama had inherited Clintons surpluses instead of Bushs near depression.

Yes, I'm sure he would have spent those lickity split!

Just think of all the entitlements Barry could have given us, that we still would not be able to pay for!

HAHAHAHAHAHAHAHAHAHAH

unpaid for wars and a market gone insane due to lack of regulations and you complain about the guy who has to clean up the mess spending on cleaning suplies.

Gee. As I recall The Dems had control of Congress for the last two years of Bush's presidency.

I also seem to recall that both Bush and McCain warned them and tried to do something about Fannie and Freddie. Franks and Dodd, both Dems BTW, said Fannie and Freddie were solid as a rock. They did nothing about enforcing the regs that were in place.

As for the mess he's cleaning up. Well He's making an even bigger one and someone will have to clean up after him.

if we still have a country when this bozo is gone. Jeeze.

 

[Claudette]

I'm enjoying the image of frantic rightwingers trying desperately to drag the CBO's predictive credibility out from the bus they threw it under last week.

Well hold onto your hat ther NY.

Won't take long for the true numbers to come out now that the bill is passed and nothing can be done about it.

You and I both know that they played a shell game with the numbers they gave the CBO.

What was it 500 billion out of Medicare that was to be spent twice .

Another 250 billion for the Doctors that they will put in a seperate bill so it won't effect the numbers they gave the CBO.

No telling how much in taxes and higher premiums that we will be paying.

Oh yeah. Hang onto your hat there dude. With both hands.

 

[Samson]

I'm enjoying the image of frantic rightwingers trying desperately to drag the CBO's predictive credibility out from the bus they threw it under last week.

Well hold onto your hat ther NY.

Won't take long for the true numbers to come out now that the bill is passed and nothing can be done about it.

You and I both know that they played a shell game with the numbers they gave the CBO.

What was it 500 billion out of Medicare that was to be spent twice .

Another 250 billion for the Doctors that they will put in a seperate bill so it won't effect the numbers they gave the CBO.

No telling how much in taxes and higher premiums that we will be paying.

Oh yeah. Hang onto your hat there dude. With both hands.

I don't think the point is that the Republicans will be proven wrong about CBO numbers.

I think the point is that Republicans want to spend money too, and will eventually use CBO numbers to justify how much THEIR "programs" will "save American Tax Payers."

 

[PubliusInfinitum]

No problems here, moving along:

CBO report: Debt will rise to 90% of GDP - Washington Times

Friday, March 26, 2010
CBO report: Debt will rise to 90% of GDP



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.

That figure would equal 90 percent of the estimated gross domestic product in 2020, up from 40 percent at the end of fiscal 2008. By comparison, America's debt-to-GDP ratio peaked at 109 percent at the end of World War II, while the ratio for economically troubled Greece hit 115 percent last year....

There's reasons for the continuing stories:

US 7-yr debt auction flops among nervous investors | Reuters

US 7-yr debt auction flops among nervous investors
Thu Mar 25, 2010 11:12pm IST Email | Print | Share | Single Page [-] Text [+]
NEW YORK, March 25 (Reuters) - The third time was not a charm for the U.S. government to raise money in the bond market this week, stoking anxiety over whether investors have started to tire of new Treasury issues.

Bond managers gave a cold shoulder to the Treasury Department's $32 billion seven-year debt sale on Thursday, the week's final note sale following a mediocre $44 billion two-year auction on Tuesday and a weak $42 billion five-year sale on Wednesday. For more see [ID:nTAR000170].

Overall bidding at the latest seven-year auction was the lowest in 10 months. The auction's bid-to-cover ratio was 2.61, down from 2.98 at the February auction...

We're in the best of hands...

Oh well... Self delusion is often not seen by those who simply WILL NOT SEE! Conspicuous consumption however, is NOT a sustainable principle.

And while reasonable people can see that; extremist simply cannot.