Obama to hike 10-year deficit to $9 trillion | U.S. | Reuters
His parting shot before taking off for two weeks: more debt.The Obama administration will raise its 10-year budget deficit projection to roughly $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.
"The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year," said the official, who is familiar with the plans.
"Our budget projections are now in line with the spring and summer projections that the Congressional Budget Office put out."
Rather nice of him to admit that the CBO had a better grasp of his shopaholism than his own people.
And what will be his solution to all this debt? Why, more spending of course!