The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.In other words, the Obama budget is just as bad as its critics have claimed all along.
The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama's opponents, who say his spending plans are too expensive in light of budget shortfalls. (Emphasis added)
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Saturday, August 22, 2009
We're running out of digits to describe the staggering debt being accumulated by the Obama Administration.