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 ...
Ping!
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!
Wow, their toilet paper has pretty pictures on it.
$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?
Classic Friday Dump and run
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.
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
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.
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).
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.
“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;^)>
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!
And go on "vacation".
“...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!
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