Friday, March 20, 2009

"Inspiring Confidence", Eh? How About "Chaos"??

You can almost hear the capital rushing in to invest here.../sarcasm

President Barack Obama's budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month.

The Congressional Budget Office figures, obtained by The Associated Press 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 White House predicted in its budget.

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.

Scary, to say the least.

If Dear Leader (may his name be blessed) wanted to nudge Chaos into play, this is one very, very, very good way to do it.

HT: Ace

1 comment:

Anonymous said...

Wasn't one of the moanings from the Left against the Iraq/Afghanistan military efforts the fact that we couldn't afford to do it?

One of the stats put up in CNN's John King's recent interview of Dick Cheney was the total spent so far was about $659 Billion...that's over six years. Mr. Obama has pledged way more than that in his first 100 days.