The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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From: DuckTapeSunroof	9/6/2009 1:53:02 AM
	1 Recommendation of 103300

Remember CBO's latest BUDGET PROJECTIONS for the US. (You know, those 10 year deficit projections that have been talked about so much here and all over the media....) Has anyone noticed yet what WASN'T TRUMPETED in the media's coverage? (And remember... Obama hasn't even had a chance yet to come up with whatever spending reductions he might or might not want to get around to - PAYGO rules for budgeting, etc - as the first Obama administration budget isn't until FY 2010. Same as Bush's first budget wasn't until FY 2002, as per usual for any new President....) Well, anyway... CBO's ten year projection of the US's expected deficit says this: the HIGHEST DEFICIT that CBO projects is for this current year, FY 2009. They project a deficit of $1.18 Trillion for this year, and they estimate that EACH YEAR thereafter (the next nine years in their ten year projection) the deficits will be LESS. (Measured as a percentage of GNP, of course.) Put another way what they project is a truly terrible 12% of GNP deficit for this near-Depression FY 2009... falling to 7.9% of GNP next year... and then falling further each additional year....

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