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US to hike 10-year deficit forecast to nine trillion dollars
AFP ^ | 08/21/09

Posted on 08/21/2009 8:14:38 PM PDT by TigerLikesRooster

US to hike 10-year deficit forecast to nine trillion dollars

Fri Aug 21, 6:06 pm ET

WASHINGTON (AFP) – US President Barack Obama's administration will raise its 10-year budget deficit forecast to about nine trillion dollars, up about two trillion from the previous forecast, a US official said Friday.

The 2010-2019 projection, due out in a report expected next week, will supercede the previous forecast of about 7.1 trillion dollars, according to an official with the White House's Office of Management and Budget.

The OMB official requested anonymity.

The figures are expected to fuel a fierce political debate over the US deficit and debt, with Obama's Republican critics redoubling their calls for him to abandon his plans to remake US health care and fight climate change.

On Wednesday, an Obama administration official said the White House next week would pare the estimated 2009 US budget deficit to 1.58 trillion dollars, around 262 billion dollars lower than forecast.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: 10trillions; bho44; bhodeficit; budget; deficit; federalspending; omb
U.S. taxpayers will be saddled with this crushing debts. They have to pay it via run-away inflation or huge tax-burden or probably both. However, Zero will finish out his term and join the board of directors or become an advisor to some big financial company who routinely give out $20 billion bonuses to its privileged employees. No doubt he will get a handsome cut out of this huge pot of money.
1 posted on 08/21/2009 8:14:38 PM PDT by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

Ping!


2 posted on 08/21/2009 8:15:08 PM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: TigerLikesRooster

3 posted on 08/21/2009 8:20:57 PM PDT by Travis McGee (---www.EnemiesForeignAndDomestic.com---)
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To: TigerLikesRooster

Yes, by all means, let’s throw government-run healthcare on top of the pile. What’s a few trillion her or there.

As Biden said at the AARP town hall, “We have to go spend money to keep from going bankrupt.”

Spend, Joe, spend! Spend like the wind!


4 posted on 08/21/2009 8:28:09 PM PDT by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: Travis McGee

Wow, their toilet paper has pretty pictures on it.


5 posted on 08/21/2009 8:28:38 PM PDT by Secret Agent Man (I'd like to tell you, but then I'd have to kill you.)
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To: TigerLikesRooster

$9 trillion ... without healthcare included. Tidy little sum.

Crushing debt that will devastate this country for decades to come. Makes one wonder if recovery will ever be possible.

Some old movies come to mind: Soylent Green or 1984 or Idiocracy .... anyone have others to add to the list of an Obambi-created future?


6 posted on 08/21/2009 8:31:31 PM PDT by K-oneTexas (I'm not a judge and there ain't enough of me to be a jury. (Zell Miller, A National Party No More))
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To: TigerLikesRooster
Zippy, STOP EVERYTHING. We have NO money. We're flat ass Broke. Do you understand? Stop! Stop! Stop! NO more programs. NO more plans. NO more nuthin!
7 posted on 08/21/2009 8:31:36 PM PDT by JPG
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To: TigerLikesRooster

Classic Friday Dump and run


8 posted on 08/21/2009 8:38:13 PM PDT by dila813
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To: TigerLikesRooster

I am sure that Obama knew that the numbers were going to be this bad and thats why he wanted to rush Obamacare through.

This asshat is nothing but slimy.


9 posted on 08/21/2009 8:43:08 PM PDT by Gator113 (It's about stupidity, stupid. IMPEACH HERE, IMPEACH NOW.)
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To: TigerLikesRooster
Lots of capital losses = lots of taxes not paid for years.

No jobs = no income taxes paid.

Imports down = duties collected down.

etc. down = Uncle Sam's wages down.

It has been posited by some that the only way to keep Uncle Sam from spending is to decrease his income. Not working too well.

yitbos

10 posted on 08/21/2009 8:55:21 PM PDT by bruinbirdman ("Those who control language control minds.")
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To: TigerLikesRooster; FromLori; Liz; stephenjohnbanker
This is very old news. The New York Times released this report under its International Herald Tribune label back in March, 2009. Obama is playing mind games with the public. His advisers are convinced people do not remember facts anymore . . .

This report is Pure Bovine Squat. The real budget deficit is about $ 23 Trillion already -- and the U.S. has yet to audit the Fed. Some people say the total debt obligation for social security and Medicare totals over $ 53 Trillion. The latest rumor is Bernanke spent the last six months buying U.S. Treasuries. Very quietly. Under the radar.

Why ________ ? You whisper. Because nobody else would. Those toxic Wall Street derivatives had to land somewhere. Have a good laugh about it. Have a good stiff drink. The truth is Helicopter Ben has been looking very upset after Bilderberg meeting in Europe.

Which really means the whole financial system is smoke and mirrors. The world you knew as a boy is gone forever. The U.S. is now officially screwed. All thanks to the oligarchs that own Congress and control our corrupt government.

11 posted on 08/21/2009 8:56:37 PM PDT by ex-Texan (Ecclesiastes 5:10 - 20)
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To: TigerLikesRooster

It’s all good - Obama Asks Moms to Return to Sckool!
Getting started is easy! (sorry, couldn’t resist- those damn ads are sooo annoying, like, I never saw one that said Bush asks Moms to return to sckool).


12 posted on 08/21/2009 9:00:43 PM PDT by khnyny (Barack Obama and Chauncey Gardiner: separated at birth)
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To: K-oneTexas
Some old movies come to mind: Soylent Green or 1984 or Idiocracy .... anyone have others to add to the list of an Obambi-created future?

The late 1970's and early 1980's gave us quite an impressive variety and caliber of TEOTWAWKI movies. The most appropriate to our situation is "Rollover" (spoiler clip here), and "Rollerball" showed us a complete union of government and corporatations.

"Mad Max" and "The Road Warrior" might be fun rentals when they start talking about "Cash For Clunkers II" which will simply outlaw gas guzzlers.

And let's give a nod to "Death Wish" just for fun. We know it'll come to that eventually.

13 posted on 08/21/2009 9:41:36 PM PDT by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: bruinbirdman

“It has been posited by some that the only way to keep Uncle Sam from spending is to decrease his income. Not working too well.”

Have a little patience, willya? Rome wasn’t built in a day, ya know.

d;^)>


14 posted on 08/21/2009 9:44:21 PM PDT by SaxxonWoods (Charter Member, 58 Million Club)
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To: TigerLikesRooster

This is unbelievable! No it is NOT just the responsibility of the Democrats but both parties! Both have driven us into untold debt with little hope of recovery. I actually can’t believe that the Chinese and others continue to fund this debt.

In the end, we will all be cursing both parties - ie. everybody that caused our fall... Idiots all!


15 posted on 08/21/2009 10:24:30 PM PDT by Deagle
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To: K-oneTexas
" $9 trillion ... without healthcare included. Tidy little sum.
Crushing debt that will devastate this country for decades to come. Makes one wonder if recovery will ever be possible.

Some old movies come to mind: Soylent Green or 1984 or Idiocracy .... anyone have others to add to the list of an Obambi-created future? ..

Now that Obama has given away 1/3 of our nuclear capability, the Russians and Chinese wait for the right moment for our economy to collapse and society to collapse and strike us with a devastating blow.
16 posted on 08/21/2009 10:58:52 PM PDT by American Constitutionalist
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To: Gator113
I am sure that Obama knew that the numbers were going to be this bad and thats why he wanted to rush Obamacare through.

And go on "vacation".

17 posted on 08/22/2009 2:45:15 AM PDT by TexasRedeye (Eschew obfuscation)
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To: K-oneTexas

“...anyone have others to add to the list of an Obambi-created future?”

Don’t forget ‘The Pod People’ who voted for this clueless marxist usurper!


18 posted on 08/22/2009 5:43:09 AM PDT by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: bruinbirdman; All
You're right. It's NOT working. And we need a bigger chart!
19 posted on 08/22/2009 5:44:38 AM PDT by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: TigerLikesRooster

20 posted on 08/22/2009 5:45:24 AM PDT by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: TigerLikesRooster

He’s hurrying to destroy the United States while he still has the opportunity.


21 posted on 08/22/2009 6:02:20 AM PDT by RoadTest (Let them all be confounded and turned back that hate Zion. Psalm 129:5)
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To: RoadTest
He’s hurrying to destroy the United States while he still has the opportunity.

I think it's already a done deal.

22 posted on 08/22/2009 6:50:00 AM PDT by Gritty (Congress' new operating procedure is business as usual with three extra zeros on the end-Mark Steyn)
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To: TigerLikesRooster

Thanks for the ping.


23 posted on 08/22/2009 6:57:45 AM PDT by GOPJ ("Fishy rumors posters" Check 'em out:http://www.freerepublic.com/focus/f-news/2311664/posts)
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To: ex-Texan

“The world you knew as a boy is gone forever. The U.S. is now officially screwed. All thanks to the oligarchs that own Congress and control our corrupt government.”

How very sad. How very true.


24 posted on 08/22/2009 8:09:54 PM PDT by stephenjohnbanker (Pray for, and support our troops(heroes) !! And vote out the RINO's!!)
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