Wednesday, April 01, 2009

Deficit reported In the first independent analysis, the nonpartisan Congressional Budget Office concluded that President Obama's budget would rack up massive deficits even after the economy recovers, forcing the nation to borrow nearly $9.3 trillion over the next decade.

The Foundry reported President Barack Obama has repeatedly claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious.
Absolutely. It is still twice Bush's deficit. And he has brought things like the Iraq war into the budget and projected it for 10 years, while at the same time promising to get out in one year, and it will still be in the baseline for him to say he cut that much when he never planned to spend it.
The Washington Post has a great graphic which helps put President Obama’s budget deficits in context of President Bush’s.
Shown above

Gateway Pundit blogged The US debt is so large that America couldn't qualify to join the EU.

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