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| 'Bama's Billions Bankrupt Budget - CBO |
| 2009-03-21 |
| Similar to other article this morning, but this is front-page WaPo! President Obama's ambitious plans to cut middle-class taxes, overhaul health care and expand access to college would require massive borrowing over the next decade, leaving the nation mired far deeper in debt than the White House previously estimated, congressional budget analysts said yesterday. In the first independent analysis of Obama's budget proposal, the nonpartisan Congressional Budget Office concluded that Obama's policies would cause government spending to swell above historic levels even after costly programs to ease the recession and stabilize the nation's financial system have ended. Tax collections, meanwhile, would lag well behind spending, producing huge annual budget deficits that would force the nation to borrow nearly $9.3 trillion over the next decade - $2.3 trillion more than the president predicted when he unveiled his budget request just one month ago. Well, that was Obamanomics™ Although Obama would come close to meeting his goal of cutting in half the deficit he inherited by the end of his first term, The result, according to the CBO, would be an ever-expanding national debt that would exceed 82 percent of the overall economy by 2019 - double last year's level - and threaten the nation's financial stability. "This clearly creates a scenario where the country's going to go bankrupt. It's almost that simple," said Sen. Judd Gregg (N.H.), the senior Republican on the Senate Budget Committee, who briefly considered joining the Obama administration as commerce secretary. "One would hope these numbers would wake somebody up," Gregg said. Maybe now we can understand why Gregg bailed out. |
| Posted by:Bobby |
| #4 "When a Congressman answers rollcall, he's not sure if he should say 'Present' or 'Not Guilty!'" ---- Will Rogers |
| Posted by: AlmostAnonymous5839 2009-03-21 20:40 |
| #3 Put'em all together and what do you get? Posted by: Besoeker That's too easy, Besoeker - Congress. |
| Posted by: Old Patriot 2009-03-21 15:46 |
| #2 Some assembly required: Facts Figures Cover ups Lies Admissions Damn lies Capital crooks Tax cheats Put'em all together and what do you get? |
| Posted by: Besoeker 2009-03-21 12:52 |
| #1 Didn't Gutter-Ball's OMB director come from the same CBO as their director? This must be some kind of "get even" vengeance on his pencil necked sloppy budgeting. |
| Posted by: Jack is Back! 2009-03-21 12:49 |