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Washington Post:

. . . the nonpartisan Congressional Budget Office predicted that the administration's agenda would generate deficits averaging nearly $1 trillion a year over the next decade -- $2.3 trillion more than the president predicted when he unveiled his spending plan just one month ago.

And while Obama would come close to meeting his goal of cutting the deficit in half by the end of his first term, the CBO predicts that the nation's annual operating deficit would never drop below 4 percent of the overall economy over the next decade, a level administration officials have said is unsustainable because the national debt would grow too rapidly.

By the CBO's estimate, for example, the nation's debt would grow to 82 percent of the overall economy by 2019 under Obama's policies, compared with a pre-recession average of 40 percent.

5 Comments:

 Misty Fowler said...

Yeah, the Bush Administration sure left us in one heck of a hole. Glad we have an honest president who doesn't try to hide the financial situation and bury the way our tax dollars are being spent.

3/21/2009 12:19 PM  

 Anonymous said...

As much I'd love to applaud the state legislature for balancing their own budget, it's dishonest to ignore the $$$ we received from the feds this budget cycle. If we really believe the federal deficit is unsustainable, the responsible thing for state legislators to do is not accept any federal dollars from the stimulus.

But as long as we willingly accept that money, we are complicit in that ever-increasing federal deficit.

3/21/2009 8:04 PM  

 Anonymous said...

I like how Misty dumbs down honesty. The CBO says Obama is understating the deficits of His own budget, and Misty praises Him for being honest.

3/22/2009 6:33 AM  

 Anonymous said...

The first anonymous presents a damned-if-you-do, damned-if-you-don't situation. If the legislature takes the money, they are adding tot the federal debt. If they don't take the money, they are shortchanging Utahns because they'll have to continue paying taxes to fund the stimulus even if they don't take the money.

3/22/2009 6:36 AM  

 Gus said...

Misty was one of Barack Obama's campaign coordinators in Utah. True believers have a rough go when hype hits reality. (And I know that from experience.)

3/22/2009 3:39 PM  

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