U.S. Budget Deficit Forecast to Hit $1.8 Trillion This Year

Discussion in 'Politics' started by Revmitchell, Mar 20, 2009.

  1. Revmitchell

    Revmitchell
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    President 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, 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 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.

    More Here
     
  2. donnA

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    deficit, what deficit? obama don't want to hear about no stinking deficit.

    Actually he said something months ago to the effect of, the deficit didn't matter to him.
     
  3. targus

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    Deficits? What are you doing talking about deficits?

    Don't you know the media is more interested in Obama's bowling score and his final four picks?

    Besides Obama promised to start cutting the deficits the year after he leaves office.
     
  4. matt wade

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    This is nothing new. It is a continuation of Bush's policies. Bush had 4 years that the deficit as a % of GDP was over 4%. Two of those years it was over 5%.
     
  5. JustChristian

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    Bush started it out over $1T and more money had to be spent to avert Bush's depression.
     
  6. donnA

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    obama is seeking to run up the deficit as much as he possibly can, he said it didn't matter, his one and only purpose is to put us deeper in debt.
    when the bible forbids debt, isn't unchristian to support his policy of more debt then ever before, putting us all, christians included in deeper debt.
     
  7. matt wade

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    It's also unchristian to spread falsehoods. "his one and only purpose is to put us deeper in debt". Please. Can't you give it a break for the sake of the rest of us?

    There are plenty of honest to goodness reasons to bash Obama. Pick any one of the factual reasons...please.
     
    #7 matt wade, Mar 20, 2009
    Last edited by a moderator: Mar 21, 2009
  8. rbell

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    For those of you scoring at home, this is off-topic Bush Bash #3,913.
     
  9. LadyEagle

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    Was this the kind of change you voted for?
     
  10. LeBuick

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    Funny how the Republican's suddenly worry about the deficit now that they are out of power. It was never mentioned when they were running it up.

    But today is a good day to reform the deficit now that the Dems are in control. Isn't that kind of hypocritical?
     
  11. Bro. Curtis

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    Yeah, as long as it's the other guy's fault, who cares ? We'll rest easier blaming the other party.
     
  12. Revmitchell

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    What Bush did is not even close to what Odrama is doing. What happened to looking at bills line by line before he signs them? What happened to his fiscal responsibility? Odrama is a liar
     
  13. saturneptune

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    This is the exact mindset that keeps the Democrat-Republican power axis going. Until one recognizes there is no difference between the two, there will be no change. Yes, the Republicans failed to uphold Constitution and conservative principles for the last eight years. The solution was certainly not to elect an even more liberal anti-Constitutional government to solve the problem. Now you not only have the Bush levels of incompetency, you and your liberal buddies have magnified the problems to the nth degree.
     
  14. rbell

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    So every single Republican, and every single person who voted for a Republican, was in favor of the deficit, and wanted it run up?

    This is not true at all. I've seen many on here who call themselves Republican lambaste those who irresponsibly wasted our money. I've also seen many Republicans (including my senator, Jeff Sessions), slam Bush, Obama, and anyone else who wasted our money.

    You know better than to make these blanket statements, that are huge overgeneralizations and exaggerations...
     
  15. Bro. James

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    We changed the meaning of budget when we started deficit spending many years ago--about the time MasterCard came on the scene. Poor financial responsibility and greed, personally and collectively, have made a full circle. Now it is time to pay the piper(our buddy, China, etal)--all we have are more red ink, federal reserve notes, a withering tax base and e-money to settle the accounts. Sorry, I forgot the abundance of toxic assets which are kind of like ocean view property in Arizona.

    Redistribution of wealth probably will not work--it has always had problems: the distributors are greedy too.

    How many pennies are in an e-dollar? What is in your wallet?

    Even so, come Lord Jesus.

    Selah,

    Bro. James
     

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