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Good News/Bad News
The good news? Obama's 2009 deficit will "ONLY" be 1.6 trillion (4 X what it took GW 8 years to accumulate). The bad news? The 2010-2019 deficit has been revised and will now be 9 TRILLION dollars.
Bu-bu-bu-Bush indeed... By the way, didn't (cough cough) some people here tell us that these deficit numbers were all just false panic created by an Obama hating lynch mob, and that the math was all fuzzy? Interestingly enough, these figures below were released officially by the White House... http://www.ohio.com/news/nation/54073882.html Federal deficit to be bigger White House officials add $2 trillion to figure, citing slumping revenue Published on Saturday, Aug 22, 2009 Associated Press WASHINGTON: The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending. The new projection, to be announced Tuesday, is for a cumulative 2010-19 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenue from a worse economic picture than was expected earlier this year. The officials spoke on condition of anonymity ahead of next week's announcement. Ten-year forecasts are volatile figures subject to change over time. But the higher number will probably create political difficulties for President Barack Obama in Congress and could create anxiety with foreign buyers of U.S. debt. Earlier this week, the White House revealed that it expects a budget deficit for the fiscal year ending Sept. 30 to be nearly $1.6 trillion. That figure was lower than initially projected because the White House scratched out $250 billion that it had initially added to the budget as a bank rescue contingency. The administration ultimately did not ask Congress for that money. Still, that number — together with the 10-year projection — represents a huge obstacle for the president. Economists predict a slow recovery from the recession, further testing Obama's goal of cutting the deficit to $512 billion in 2013. Even as he seeks higher revenues to pay for new climate change and health care measures, the president could face pressure to increase revenues or make deep spending cuts to tame the deficit. |
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Awe cripes... *finger* to Uncle O and his mob.
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Now THIS is a failed Bush policy I wish he wouldn't repeat.
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Wow. Kinda makes you wish for the good ole days of the Bush adminstration. :toofunny:
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Bu Bu Bu Bu Bush............................cmon libs, defend this one. This is not good for the administration. Lots of people have been asking all along, where is all of this money for these huge programs going to come from. This is a debt that will ultimately bankrupt America..........................................n ot good
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ho hum. this again? :coffee: speaking of "fuzzy math" youve pretty much backed the notion that obama was racking up an 18 trillion dollar deficit by '19.
(from the above posted article- Ten-year forecasts are volatile figures subject to change over time. ) you have posted the"real" and "actual" number at 12 trillion. then you started a thread saying 10 trillion. then you lowered your estimate to 9.3 trillion. looks like your flavor of the week guestimate number you are hitching your wagon to is 9 trillion now. :rolleyes: on the pace you are on, in 4 years you will be posting we have a surplus. :willy: either way, theres nothing new here. just another thread of redundancy that assumes everybody else forgets all the bs that has been posted in the past. :bump: - bump works. Quote:
SSDD its just spun a million ways. Quote:
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http://i132.photobucket.com/albums/q...einshowphp.jpg
201- spend trillions. create deficit. line wall street buddies pockets. |
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