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Thread: Obama's $2 Trillion Dollar Budget Deficit

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    Obama's $2 Trillion Dollar Budget Deficit

    This country is going bankrupt.....

    Paul Krugman of the NY Times is among a number of liberals who are complaining that Barack Obama's economic plan is too timid. Keep that in mind as you read Strategas analyst Dan Clifton's budget analsis:

    Yesterdays Congressional Budget Office (CBO) release of the updated FY 09 budget numbers showed a $1.2 trillion deficit for the fiscal year (8.5% of GDP). However, a closer examination of the report demonstrates these numbers are dramatically underestimated due to the scoring of TARP expenditures and obviously the fact that the stimulus was left out of the scoring (CBO is creating a budget baseline based on current law).Based on our analysis, the deficit is actually $2.2 trillion for the fiscal year or nearly 100 percent higher than is being reported. In fact, the deficit will finish the fiscal year at an astonishing 15.5 percent of GDP! Federal spending will rise to 32 percent of GDP.

    Bob
    YIPSTER - Let's debate it.

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    Re: Obama's $2 Trillion Dollar Budget Deficit

    Son of a bitch ought to be thrown into prison.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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    Re: Obama's $2 Trillion Dollar Budget Deficit

    Quote Originally Posted by Yipster View Post
    T
    Paul Krugman of the NY Times

    .....wait a minute, I though all you conservatives didn't believe a damn thing the NYT says?

    Or is it you only believe anything bad about Obama that the NYT says? Make up your damn hypocritical minds will ya?

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