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Old 03-18-2011, 04:56 PM  
HonestChieffan HonestChieffan is offline
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CBO revises Obama Numbers...off $2 Trillion. Hes at a party, no comment

2 freaking Trillion off.




(AP) — A new assessment of President Barack Obama’s budget released Friday says the White House underestimates future budget deficits by more than $2 trillion over the upcoming decade.

The estimate from the nonpartisan Congressional Budget Office says that if Obama’s February budget submission is enacted into law it would produce deficits totaling $9.5 trillion over 10 years — an average of almost $1 trillion a year.

Obama’s budget saw deficits totaling $7.2 trillion over the same period.

The difference is chiefly because CBO has a less optimistic estimate of how much the government will collect in tax revenues, partly because the administration has rosier economic projections.

But the agency also rejects the administration’s claims of more than $300 billion of that savings — to pay for preventing a cut in Medicare payments to doctors — because it doesn’t specifying where it would come from. Likewise, CBO fails to credit the White House with an additional $328 billion that would come from unspecified “bipartisan financing” to pay for transportation infrastructure projects such as high speed rail lines and road and bridge construction.

Continue reading http://news.yahoo.com/s/ap/20110318/...s_obama_budget
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Old 03-18-2011, 06:04 PM   #2
patteeu patteeu is offline
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At least he has us on the road to eliminating the deficit by the end of the 10 year budgeting window right? No? Well, he'll have them down to W levels by then right? No? Well he'll at least have them stabilized or declining by then right? No?
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