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Thread: White House, Congress project record US deficits

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    White House, Congress project record US deficits

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    Citing worse than expected economy, White House and Congress offer bleak US budget outlooks
    By Jim Kuhnhenn, Associated Press Writer
    On Tuesday August 25, 2009, 10:32 am EDT
    WASHINGTON (AP) -- The U.S. government faces exploding deficits and mounting debt over the next decade, White House and congressional budget officials projected Tuesday in rival economic outlooks.
    Both the White House Office of Management and Budget and the nonpartisan Congressional Budget Office predicted the budget deficit this year would swell to nearly $1.6 trillon, a record.
    But while figures released by the Whit House foresee a cumulative $9 trillion deficit from 2010-2019, $2 trillion more than the administration estimated in May, congressional budget analysts put the figure at a lower $7.14 trillion.
    Wow, ONLY $7.14T.....boy I was really worried.
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    Re: White House, Congress project record US deficits

    Quote Originally Posted by American View Post
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    Wow, ONLY $7.14T.....boy I was really worried.
    Yep; but this is of course before we add Government Healthcare and Cap and Trade to the number.

    But alas, Liberals and Democrats were only worried when Bush ran up $200 billion and created/expanded the Department of Homeland Security; this makes so much more sense don't you think?

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