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

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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.

Update: Enzi, Grassley say no deal from GOP Cmte members before recess; Progressive Caucus revolts against Dem leadership on deal Waxman cut with Blue Dogs; Reid blames the media for the August deadline, and Nancy ratchets up class warfare again…

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Update 4: the ‘blame the media’ is (un)Official Policy says I. Gibby used it today at the presser and tried to make it a joke. Reid AND Gibby make it clear the media is the fall guy for the latest failure in TOTUS Town…

Update 3: No agreement on health care from GOP Cmte Members per Grassley, Enzi. In other news the Dems are really losin it, Harry Reid is BLAMING THE MEDIA now !! Yes! He says the MEDIA created the August deadline. Guess he missed TOTUS and Gibby laying out August every other hour…

Reid said reporters created a fictitious deadline of a successful vote by the August recess, and downplayed the fact that the chamber won’t meet that mark.

“That is a deadline that you created,” Reid told a group of about 75 reporters. “It’s not like we don’t have a product. Significant progress has been made … The mere fact that this wasn’t done by last Friday or by five o’clock doesn’t mean we’re not going to get a quality product.”

And MiM has speculated here often that the reason TOTUS wanted it done BEFORE August is b/c the WH has been holding back the updated economic projections, (usually released mid July) showing the projected deficit. Obviously he wanted the healthcare deficit adding budget busting plan pushed through BEFORE anyone got a good look at what the deficit will be BEFORE they add on this mondo spending…yep.

Pelosi is raving against the EEEEEvil Insurance Companies now, looking to gin up that good ole’ standby, Class Warfare. It worked so well with Wall St and the EEEEEvil bankers and AIG  (at least until Dodd got hoisted by his own petard having approved those bonuses himself, frakker). AP at HA has the details on Nancy’s ravings….

And in other fun for Nancy and Harry, the Progressive Caucus within the Dem majority is now in open revolt against the leadership for the deal Waxman cut with the Blue Dogs...the CBC has been throwing down the race card left and right, noting that the Energy Cmte Blue Dogs are all white men, and claiming the Blue Dogs are betraying the 20-40% of their constituents who are black. Seriously. Well, Nancy and Harry let the race card fly left and right against Hill in our primaries, so like I say live by the race card, die by the race card..karma baby..

…At one point, Carolyn Kilpatrick (D-Mich.), a former Congressional Black Caucus chairwoman, expressed outrage that conservatives would insist on significant cuts and a weakening of the public option, arguing that many of the Blue Dogs were letting down their black constituents, who make up 25 percent to 40 percent of their voters, in some instances….

…The intraparty dispute had racial overtones. One African-American Democrat, Representative Hank Johnson of Georgia, pointed out that the seven Blue Dog Democrats holding up the health care bill in the Energy and Commerce Committee were “a nondiverse group” of white men….

Nancy tried to push back on this conflict today:

…As to claims that Democratic leadership sold out progressive, African-Americans and Hispanic reps by negotiating a side deal, she responded: “Might I remind you that the progressives are represented on committees of jurisdiction in a very strong manner. Might I remind you that the progressives are chairmen of those committees — progressives have been well represented.”…

I hope everyone tries to get out and attend the AUGUST 22ND RECESS RALLY with the Tea Party Patriots!!!

Update 2: MM has linkys for Recess Rally August 22nd...

recessrally

2.  Tuesday: Call the House Energy and Commerce Committee members.  Tell them not to pass the government run health care bill out of committee.  Our sources tell us that all the Republicans will be voting against the legislation already so you may choose to focus on the Democrats.  Record your answers and the number of calls you made.

3.  Wednesday: Call the Blue Dog DemocratsRecord your answers and the number of calls you made.

4.  Thursday: Call the Senate Finance Committee tell them our economy cannot afford another massive government spending bill.  (This link may not be active now abut it will be active before Thursday.) Record your answers and the number of calls you made.

5.  Friday: Call your Senators and your Representative; tell them as a constituent you are asking them to vote NO on government take over of Health Care. Record your answers and the number of calls you made.

7.  Friday:  Call the Blue Dog Democrats AGAINRecord your answers and the number of calls you made.

Update 3: El Rushbo on the changing tone of the health care sales pitch…

After the break:

(more…)

July 27, 2009. Tags: , , , , , , , , , , , , , , , . Economy, Finance, Healthcare, Obama Administration, Politics, Taxes. Comments off.

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