The Obama Budget Proposal: Deficit spending forever.

Discussion in 'Politics' started by carpro, Jul 18, 2011.

  1. carpro

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    Oct 14, 2004
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    Obama's Proposal: Increase Debt Extra $26B This Year, $83B Next Year, $2.7T Over Decade

    Saturday, July 16, 2011
    By Terence P. Jeffrey

    While the Republican-controlled House of Representatives has voted this year to approve House Budget Chairman Paul Ryan's (R.-Wis.) proposal--that would put the government on a gradual path to a surplus by 2040--and plans to vote on a balanced budget amendment next week that would cap federal spending at 18 percent of GDP, the only budget proposal President Obama's has publicly revealed in 2011 would, according to the Congressional Budget Office, increase the deficit by $26 billion this year, $83 billion next year, and $2.7 trillion over the next decade.


    In other words, if Obama's budget were enacted, according to the CBO, Obama not only would increase the deficit by $2.7 trillion over current law over the next decade, but also, when he left office in 2016, he would be leaving the government with the prospect of ever increasing annual budget deficits.

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