$1 trillion deficits seen for next 10 years

AP via Yahoo ^ | 3/20/09 | ANDREW TAYLOR

[Nathan Zachary]

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."

Wishful thinking. With the dollar sinking just what it did in the last couple days has already added billions to this years dept costs alone. Add our shrinking GNP to this wishful thinking and that multiplies it even more, and puts even more downward pressure on the dollar, creating a never ending cycle. Obama and the moronic Democrat party have destroyed this country. We just don't know it yet.

[avacado]

"I mean, how do you come out against deficits NOW?"

Easy.

Federal revenue is $2.5 trillion/yr

Republican Congress for fiscal 2007 had a $160B budget deficit:

(160B / 2.5T) x 100 = 6.4% of total revenue

Democrats and Obama for fiscal 2009 at $2T deficit:

(2T / 2.5T) x 100 = 80% of total revenue.

No comparison. 6.4% of total revenue is nothing, 80% of total revenue is something we cannot recover from.

[swarthyguy]

>80% of total revenue is something we cannot recover from.

Then I guess we’re doomed.

[maggief]

I stand corrected.

:)

[avacado]

That’s what this thread is about.

[Nathan Zachary]

By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level.

Again, wishful thinking. This is assuming that our GNP will actually grow. It will continue shrinking at least at the rate it is now. And cost of government and all it's entities will continue to climb.

[Ev Reeman]

Some of us know it but the libs and their mindless zombie sheep supporters dont give a damn.

[dbrew2u]

I held out hope that we could hang on till 2010. But it looks increasingly like the dollar will collapse before then. If this happens...Checkmate. The Fed is playing a very dangerous game by buying our own debt. This again , is a policy that has not worked a single time its been tried. Obama seems to enjoy using failed policies.

[April Lexington]

Obama seems to enjoy using failed policies.

I wrestle with this. Either Obama is an evil genius who knows exactly what he is doing or he is a doofus narcissist who is happy to clown around on Leno while the real masters are buys destroying the American economy for their advantage. He's either one of them or he's a useful idiot. I suspect the later...