What Happened to the Stimulus???
The Obama administration will raise its 10-year budget deficit projection to roughly $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.
“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,” said the official, who is familiar with the plans.
“Our budget projections are now in line with the spring and summer projections that the Congressional Budget Office put out.”
The CBO said in June that deficits between 2010 and 2019 would total $9.1 trillion.
Amazing how this stuff breaks on a late Friday afternoon in the midst of summer. It’s almost as if the Obama Administration is attempting to sweep this under the rug.
It’s a good thing our massive new health-care bureaucracy’s going to be deficit-neutral. Imagine how much higher this number would be if it wasn’t.
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Posted by Jay on August 22, 2009 12:20 am
» Filed Under Barack Obama, Congress, Democrats, Earmarks, Economy, Fiscal Responsibility, Government corruption, Government malfeasance/misfeasance, Healthcare, News, Politics As Usual, Socialism, Taxes, Video, bailouts, economic stimulus
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