Yes, that’s trillion with a T.
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.
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.
The White House took heat for sticking with its $7.108 trillion forecast earlier this year after the Congressional Budget Office forecast that deficits between 2010 and 2019 would total $9.1 trillion. [...]
Record-breaking deficits have raised concerns about America’s ability to finance its debt and whether the United States can maintain its top-tier AAA credit rating.
Politically, the deficit has been an albatross for Obama, a Democrat who is pushing forward with plans to overhaul the U.S. healthcare industry — an initiative that could cost up to $1 trillion over 10 years — and other promises, including reforming education and how the country handles energy.
It’s an albatross for our children! Yet he shows no inclination to slow down spending.
How nice this news was released just as the Obama family goes on yet another vacation.
[...] (1 Bid) End Date: Friday Aug-21-2009 18:19:25 PDT Bid now | Add to watch list Cool, arent they? Obama’s Deficit: $9 Trillion in 10 Years – lonelyconservative.com 08/22/2009 Yes, that’s trillion with a T . The Obama administration will [...]
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[...] the original here: Obama’s Deficit: $9 Trillion in 10 Years Related articles:Friday afternoon bad news: Obama to raise 10-year deficit to $9 trillionWhite [...]
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“One trillion dollars” should be called “one thousand billion dollars”. That’s what it is, and maybe it might get the attention of the idiots of this country.
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