Friday, March 18, 2011

So? What's a couple of trillion bucks?

WASHINGTON – 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.

1 comment:

M1911A1(can't fix perfect) said...

When is the world gonna realize that the US ain't never gonna pay any of that money back?...BY EXECUTIVE DECREE,SORRY SUCKAS, YO ASS BEEN HAD! Whatcha gonna do now, humm? Come and REPO the shit, I dare ya!