Friday, March 20, 2009

CBO throws BHO under BUS

From the AP wire:

WASHINGTON – Despite new estimates that say President Barack Obama's budget would generate unsustainable large deficits averaging almost $1 trillion a year, the White House insisted Friday that the flood of red ink won't swamp its costly agenda.

The Congressional Budget Office figures released 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 administration predicted in its budget just last month.

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 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.


People, I am rooting for the money wrench.

1 comment:

prison rodeo said...

Awesome Freudian slip, Angus baby...