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Thread: W.H. hikes deficit estimate by $2 trillion

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    W.H. hikes deficit estimate by $2 trillion


    W.H. hikes deficit estimate by $2 trillion


    The White House is likely to dramatically increase its projected 10-year budget deficit estimate next week by nearly $2 trillion, senior administration officials said Friday.


    Obama administration officials have concluded the economy was much worse last year — and tax revenues much lower — than they had initially assumed, which means that the estimated budget deficit will increase from $7 trillion to about $9 trillion over the coming decade.


    The planned revision was first reported by Reuters, and White House officials confirmed that account for POLITICO.


    There’s no doubt the revision will be interpreted as bad news for an administration whose deficit spending has emerged as a political Achilles' heel.



    Read more: W.H. hikes deficit estimate by $2 trillion - Amie Parnes and Eamon Javers - POLITICO.com


    Hey, so now we see the "chickens coming home to roost" no? an additional 2 trillion is 25% more, and IIRC many on the right said this exact thing would happen?


    How do you feel about such a deficit?
    Let evil swiftly befall those who have wrongly condemned us

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    Re: W.H. hikes deficit estimate by $2 trillion

    Quote Originally Posted by Reverend_Hellh0und View Post
    How do you feel about such a deficit?
    Sick, that's how.

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    Re: W.H. hikes deficit estimate by $2 trillion

    Well, if Obama hadn't spent the Stimulas package ($787,000,000,000), and the Omnibus spending bill ($410,000,000,000), our defict would only be $803,000,000,000.

    Let's here it for the Health Care bill!!!

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    Re: W.H. hikes deficit estimate by $2 trillion

    Quote Originally Posted by Reverend_Hellh0und View Post
    How do you feel about such a deficit?
    Well, he's trying to deal with the nightmare Bush left without raising taxes.

    Personally, I think the Bush voters should step up and agree to a tripling of their taxes for pentance,
    but we'll play nice and chip in until Obama turns the ship around.

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    Re: W.H. hikes deficit estimate by $2 trillion

    Quote Originally Posted by Joe1991 View Post
    Well, he's trying to deal with the nightmare Bush left without raising taxes.

    Personally, I think the Bush voters should step up and agree to a tripling of their taxes for pentance,
    but we'll play nice and chip in until Obama turns the ship around.
    He's dealing with an economy he and his Democratic confederates in Congress caused in the last few years.

    Until the Dems got in control, things were perking right along... didn't take long for them to kill the economy... just spend, spend, spend.

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    Re: W.H. hikes deficit estimate by $2 trillion

    Quote Originally Posted by Crunch View Post
    He's dealing with an economy he and his Democratic confederates in Congress caused in the last few years.
    Are you serious?

    Talk about the most ignorant partisan statement out there.

    Tell me, who repealed the Glass-Steel act and when did they do it?
    Tell me, who in 2001 started to reduce the down payment rule?
    Tell me, who pushed the "ownership" society?
    Tell me, how big was the subprime market compared to the CRA loans?

    Much of this mess was not related to anything Congress did or did not do over the past decade.

    Until the Dems got in control, things were perking right along... didn't take long for them to kill the economy... just spend, spend, spend.
    O'rly? So the the Dems are at fault for repealing the GSA? The Republicans never increased debt during the 5 years? Really? By your logic, Bush killed the economy in 2001.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: W.H. hikes deficit estimate by $2 trillion

    Doesn't this concern those of you who voted for, and support the Obama administration?

    We know it doesn't concern the democrats in DC and their ever faithful main stream media.

    .
    Last edited by Grim17; 08-25-09 at 06:37 PM.

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    Re: W.H. hikes deficit estimate by $2 trillion

    Quote Originally Posted by Joe1991 View Post
    Well, he's trying to deal with the nightmare Bush left without raising taxes.

    Personally, I think the Bush voters should step up and agree to a tripling of their taxes for pentance,
    but we'll play nice and chip in until Obama turns the ship around.
    What a shock!

    I can't believe that someone on the left chose to attack Bush, rather than address the uncontrollable spending of the Obama administration that has led to the extra 2 trillion in debt.

    < Sarcasm OFF >

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    Re: W.H. hikes deficit estimate by $2 trillion

    Quote Originally Posted by Grim17 View Post
    Doesn't this concern those of you who voted for, and support the Obama administration?
    It should. What I find more interesting is those who proclaim themselves to be fiscal conservatives not doing this when the GOP was in power. Apparently just democrat spending is not acceptable.

    Turning off the lights on one of the few remaining fiscal conservatives in the party when he complained about their spending is not a good way of showing you actually care about fiscal conservatism.

    I can't believe that someone on the left chose to attack Bush, rather than address the uncontrollable spending of the Obama administration that has led to the extra 2 trillion in debt.
    Do remember that a sizable portion of the 1.8 trillion deficit is Bush era spending. While the stimulus bill was massive, not all of the 1.8 is Obama era. If 2010 and 2011 are this high, Obama should be impeached and Congress cleaned of everyone but Dr. No.
    Last edited by obvious Child; 08-25-09 at 06:44 PM.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: W.H. hikes deficit estimate by $2 trillion

    it would be nice if OC for once addressed the actual topic instead of attacking right wing posters... just sayin....
    Let evil swiftly befall those who have wrongly condemned us

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