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$1 trillion deficits seen for next 10 years
$1 trillion deficits seen for next 10 years
This is stunning. The Bush decificts pale in comparison.
Ya think?
Everyone needs to remember:
The ONLY way we run a deficit is if The Obama and the Dem-controlled congress CHOOSES to run one.
$1 trillion deficits seen for next 10 years
WASHINGTON (AP) - President Barack Obama's budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month.
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. That's $2.3 trillion worse than the White House predicted in its budget.
Worst of all, CBO says the deficit under Obama's policies would never go below 4 percent of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level.
The latest figures, even worse than expected by top Democrats, throw a major monkey wrench into efforts to enact Obama's budget, which promises universal health care for all and higher spending for domestic programs like education and research into renewable energy.
$1 trillion deficits seen for next 10 years
This is stunning. The Bush decificts pale in comparison.
But without referencing the figures, Obama insisted on Friday that his agenda is still on track.
Ya think?
Everyone needs to remember:
The ONLY way we run a deficit is if The Obama and the Dem-controlled congress CHOOSES to run one.
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