CBO says Obama’s budget deficits will be much worse than expected
According to the Congressional Budget Office (CBO), the Obama administration’s budget deficits will average almost $1 trillion for the next ten years. It gets even better.
This year’s budget deficit has been revised to top $1.8 trillion. Next year, the deficit eases to a more “modest” $1.4 trillion. And finally, the CBO estimates Obama’s budget blueprint will add another $9.3 trillion to our national debt by 2019. That amounts to $2.3 trillion more than the White House originally predicted.
So, by 2019, under the current administration’s proposed budgets, our nation could be sitting on approximately $20 trillion of debt.
It’s a pretty safe bet that this year’s budget deficit and budget deficits in the years to come will end up higher than the CBO’s latest revisions.
Ladies and gentlemen, you have seen the economic blueprint for the destruction of our great nation. It is up to us to to put a stop to this fiscal insanity.
Read the article here.
richard said:
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March 20th, 2009 at 11:51 am
Tammy said:
Ummm.. have you guys seen this video The Obama Deception?
http://www.youtube.com/watch?v=eAaQNACwaLw
I just watched the whole thing and OMG!!! If you haven't seen it, you better. It explains why Obama is moving so fast and couldn't care less about our little protests. I think it's time we stepped it up bit?
This doesn't look good.
March 23rd, 2009 at 12:49 am
F you. said:
F you.
March 23rd, 2009 at 3:21 am
Don Perera said:
The interest on just our National Debt will be $1 trillion. How do we fund the rest of the Government with this kind of debt and interest? Higher,,,,, much higher taxes!!! It is really time that “We the People” to get seriously involved. The Change I am seeing is not the Change we need.
March 23rd, 2009 at 7:30 am
Keith said:
If you want to really wrap your mind around the huge numbers in the bailout (particularly AIG) watch this short video on youtube. It's got some great visuals that really help you understand the magnitude.
http://www.youtube.com/watch?v=iabsIdrND8g
March 23rd, 2009 at 8:18 am