Yonivore
08-21-2009, 08:23 PM
F65EYyHhanY
As Barack Obama headed out for a vacation on Martha's Vineyard, the Office of Management and Budget leaked the news (http://thehill.com/leading-the-news/10-year-budget-deficit-grows-by-2-trillion-2009-08-21.html) that the administration's ten-year estimate of budget deficits is being raised from $7 trillion to $9 trillion:
The White House next week will revise the 10-year budget deficit from $7.1 trillion to $9 trillion.
Officials at the White House Office of Management and Budget (OMB) confirmed the enormous debt revision late Friday afternoon, hours after President Obama left for a 10-day vacation. ...
The new projections bring the White House numbers in line with estimates by the independent and non-partisan Congressional Budget Office (CBO). In June, CBO projected a 9.1 trillion deficit.
I take it that this means that, in the Heritage Foundation's famous graph, the OMB projections are now essentially the same as CBO's:
http://www.powerlineblog.com/archives/assets_c/2009/08/wapoobamabudget1-thumb-410x338.jpg
With luck, of course, the Obama administration's current plans will have little impact on what actual budget deficits prove to be ten years from now.
ENm44TufWuw
As Barack Obama headed out for a vacation on Martha's Vineyard, the Office of Management and Budget leaked the news (http://thehill.com/leading-the-news/10-year-budget-deficit-grows-by-2-trillion-2009-08-21.html) that the administration's ten-year estimate of budget deficits is being raised from $7 trillion to $9 trillion:
The White House next week will revise the 10-year budget deficit from $7.1 trillion to $9 trillion.
Officials at the White House Office of Management and Budget (OMB) confirmed the enormous debt revision late Friday afternoon, hours after President Obama left for a 10-day vacation. ...
The new projections bring the White House numbers in line with estimates by the independent and non-partisan Congressional Budget Office (CBO). In June, CBO projected a 9.1 trillion deficit.
I take it that this means that, in the Heritage Foundation's famous graph, the OMB projections are now essentially the same as CBO's:
http://www.powerlineblog.com/archives/assets_c/2009/08/wapoobamabudget1-thumb-410x338.jpg
With luck, of course, the Obama administration's current plans will have little impact on what actual budget deficits prove to be ten years from now.
ENm44TufWuw