Wednesday, August 26, 2009

Obama's Bigger Deficit Projected

By Douglas V. Gibbs

At a time when the Obama Administration is losing ground in the approval category, in a large part for their excessive spending habits, the White House has now come out with a projection that the exploding debt will be larger than originally thought (and this is probably a low estimate).

The White House budget office is expecting a $9 trillion deficit from 2010-2019. This projection exceeds the estimate released last May, which was $2 trillion less.

They are proclaiming the reason for the additional spending is because this recession is worse than the information that they had back last fall and early this winter.

But, but, I thought they were saying just recently that Obama saved us. The recession is nearly over, they said.

Hmmmm. The recession is bad when they proclaim they need to spend a couple trillion bucks more (and of course it is all Bush's fault), and the recession is nearly over when the Democrats need to do something about Obama's dropping approval numbers.

I smell a rat.

And of course, for Obama, this is a bad time to tell the public that he is spending way too much - as he tries to convince everyone he needs to spend even more on a horrific health care plan that is thought by the opposition to be yet another socialist nail in the coffin of the private sector.

Remember, too, these are the same people that were beside themselves over Bush's spending tendencies, which now seems like a pot hole compared to the crater of spending Obama has created.

-- Political Pistachio Conservative News and Commentary

White House projects bigger deficits, bigger debt - JIM KUHNHENN, Associated Press

No comments: