The federal government faces exploding deficits and mounting debt over the next decade, White House officials predicted Tuesday in a fiscal assessment far bleaker than what the Obama administration had estimated just a few months ago.These numbers don't sound real anymore:
Figures released by the White House budget office foresee a cumulative $9 trillion deficit from 2010-2019, $2 trillion more than the administration estimated in May. Moreover, the figures show the public debt doubling by 2019 and reaching three-quarters the size of the entire national economy.
Tuesday, August 25, 2009
Paging Dr. Evil- Obama ups deficit by $2 trillion
Word leaked out with the trash last Friday, but today the Obama Administration had officially increased its projected deficit for the next ten years.
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