Change We Can Be Bankrupted By

[BUD]

http://www.washingtontimes.com/news/2010/mar/26/cbos-2020-vision-debt-will-rise-to-90-of-gdp/

[impalanar]

For the link click challenged...


President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

In its 2011 budget, which the White House Office of Management and Budget (OMB) released Feb. 1, the administration projected a 10-year deficit total of $8.53 trillion. After looking it over, CBO said in its final analysis, released Thursday, that the president's budget would generate a combined $9.75 trillion in deficits over the next decade.

[bigb996]

big surprise that the government underquoted something.

[wallypiper]

Ahhhhh, what's another trillion bucks? Neither the Obama administration nor the congress is likely to take any action which will actually reduce the debt. They're afraid to. They think if they do the things that need to be done, they can't get re-elected. They have a new reality coming. It starts in November.

[Karl Hungus]

They have a new reality coming. It starts in November.

Wally, who is your Congressman? I wouldn't bet a lot of money that he gets ousted this year, especially if it's Gingrey.

[wallypiper]

David Scott. I wouldn't bet a lot of money on any incumbent.