WH-OMB releases budget forecast adds another 2 TRILLION to deficit- from 7 T to 9 Trillion

grizzly1

Breaking on FOX:  A-HA!!!! This is EXACTLY what we figured, they were holding back the damn GINORMOUS DEFICIT HIT hoping to ram through Healthcare in July before this data came out.  Here is our post from July 20th outlining exactly this scenario. Frakkers. J’accuse!!!! They KNEW this was coming and were going full steam ahead (and still are) trying to add ANOTHER MASSIVE spending plan on TOP of this?? WTF?? Recall CBO said the BIG COSTS in the HR3200 health care bill are AFTER the 10 year mark…(deliberately built that way to try and escape notice of the general public, since the WH has to report a 10 yr window)…

Breaking on FOX NOW….

So much for the crystal ball.

In a report next week, the Obama administration will increase its 10-year budget deficit projection to roughly $9 trillion, an increase of about $2 trillion from the previous projection, a senior administration official told Reuters on Friday.

The 2010-2019 cumulative deficit projection replaces the administration’s previous estimate of $7.108 trillion, said the official, who is familiar with the plans.

“The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year,” Reuters quoted the unnamed official as saying….

The media did a lot of hyping ahead of this release about how THIS YEARS deficit is actually lower than forecast. O-yay o-Yay. Sadly that is due to them not giving as many bailouts as projected (ie housing plan funds of 50 billion are still sitting, and Fannie and Freddie are waiting to ask for 30 billion more until after this deficit number was released (their last money grab was a mere 8 months ago), wouldn’t want to frak up all the projections in the same report would we? Might lead the public to think we are up a stream with a madman at the helm….

We get the CBO numbers next week, no wonder TOTUS is off the tv and going on vacation….

August 21, 2009. Tags: , , , , , , , , , , . Economy, Finance, Politics. 3 comments.

%d bloggers like this: