WASHINGTON – President Barack Obama's budget would produce $9.3 trillion in deficits over the next decade, more than four times the deficits of Republican George W. Bush's presidency, congressional auditors said Friday.
The new Congressional Budget Office figures offered a far more dire outlook for Obama's budget than the new administration predicted just last month — a deficit $2.3 trillion worse. It's a prospect even the president's own budget director called unsustainable.
In his White House run, Obama assailed the economic policies of his predecessor, but the eye-popping deficit numbers threaten to swamp his ambitious agenda of overhauling health care, exploring new energy sources and enacting scores of domestic programs.
The dismal deficit figures, if they prove to be accurate, inevitably raise the prospect that Obama and his Democratic allies controlling Congress would have to consider raising taxes after the recession ends or else pare back his agenda.
By CBO's calculation, Obama's budget would generate deficits averaging almost $1 trillion a year of red ink over 2010-2019.
Worst of all, CBO says the deficit under Obama's policies would never go below 4 percent of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level.
And people trust the Dems more on the budget and the ecnonomy? Why? Do we like being in eternal debt? I sure as hell don't.
This is hope and change we can all believe in, going so far into debt we are like a friggin banana republic third world dictatorship? Disgusting!
Where are the adults to clean up this mess? We have a manchild doddering idiot as President, who cares more for his bracket for March Madness than in paying the bills and being a steward of the People's money, we have a senile old fart as the VP who makes gaffe after gaffe, so much so they hide him away until comic relief is needed, and we have a vicious old crone b**** of a Speaker who cares more for her daily morning routine of Ben and Jerry's than in doing the People's business...where are the adults to stop this car and smack some of the children around?
