Thread: Obama Budget Deficit Forecast to Hit $1.8 Trillion This Year

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 percent of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level.
The latest figures, even worse than expected by top Democrats, throw a major monkey wrench into efforts to enact Obama's budget, which promises universal health care for all and higher spending for domestic programs like education and research into renewable energy.

Many Democrats were already uncomfortable with Obama's budget, which promises to cut the deficit to $533 billion in five years. The CBO says the red ink for that year will total $672 billion.

U.S. Budget Deficit Forecast to Hit $1.8 Trillion This Year - First 100 Days of Presidency - Politics FOXNews.com

Obongo's going to break the freakin' charts.

Look at the bright side. We can use actual federal reserve notes for monopoly money.

Everyone should go buy a wheelbarrow if they dont have one yet.

sucks, but we are in something called a "recession"

Get out of it faster, and the faster we can get some real tax revenue.

Obama would have a defecit anyway even in a healthy economy (like Bush and McCain) but we may get lucky.

I am opposed to many of Obama's plans, but I recognize that a large defecit is acceptable now.


Hopefully he will tax the rich more after the recession and not spend as much as he says....

Originally Posted by Nerv14

sucks, but we are in something called a "recession"

Get out of it faster, and the faster we can get some real tax revenue.

Obama would have a defecit anyway even in a healthy economy (like Bush and McCain) but we may get lucky.

I am opposed to many of Obama's plans, but I recognize that a large defecit is acceptable now.


Hopefully he will tax the rich more after the recession and not spend as much as he says....

By the time the recession is on it's way out, these rubes will have re-elected a Republican, thus in keeping with their view that Republicans are the fiscally responsible ones because the new Republican president is responsible for the improved economy. Never mind all the work the previous admin put into the economy, this new guy rules! Now can we bomb Iran? Pleeeeeeease?

Shades of Clinton/Bush.

Originally Posted by Ronin Tetsuro

By the time the recession is on it's way out, these rubes will have re-elected a Republican, thus in keeping with their view that Republicans are the fiscally responsible ones because the new Republican president is responsible for the improved economy. Never mind all the work the previous admin put into the economy, this new guy rules! Now can we bomb Iran? Pleeeeeeease?

Shades of Clinton/Bush.

BUUURP.....

:dunno:

was'nt me.....

Originally Posted by Ronster

BUUURP.....

:dunno:

was'nt me.....

I'll take that as an endorsement of the kinds of gamesmanship I pointed out.

Originally Posted by Nerv14

sucks, but we are in something called a "recession"

Get out of it faster, and the faster we can get some real tax revenue.

Obama would have a defecit anyway even in a healthy economy (like Bush and McCain) but we may get lucky.

I am opposed to many of Obama's plans, but I recognize that a large defecit is acceptable now.


Hopefully he will tax the rich more after the recession and not spend as much as he says....

The rich are who help create jobs. Many of them are douchebags and I'm all for punitive taxing on those who hire illegals or treat their employees like shit. We are at a point where we can suck them dry til they leave this country for one that has better taxes or we can reward good and punish bad. Many rich people are rich because of hard work and many give their employees benefits as well as good pay. Their employees then have $ to hire construction workers, interior designers or go out to eat. You wouldn't have America without a free market wealthy sector.

Originally Posted by DudleyDoRight

The rich are who help create jobs. Many of them are douchebags and I'm all for punitive taxing on those who hire illegals or treat their employees like shit. We are at a point where we can suck them dry til they leave this country for one that has better taxes or we can reward good and punish bad. Many rich people are rich because of hard work and many give their employees benefits as well as good pay. Their employees then have $ to hire construction workers, interior designers or go out to eat. You wouldn't have America without a free market wealthy sector.

So America didn't exist until there was a definite upper class? About when would you say that was?

This whole 'the rich underpin our entire society' argument is hot horseshit on a cracker. Who do you think came up with this line of thinking? THE FREE MARKET WEALTHY SECTOR.

Wake up.