John on August 23, 2009 at 11:01 pm
Reality is striking back:
The nation would be forced to borrow more than $9 trillion over the next decade under President Obama’s policies, the White House acknowledged late Friday, bringing their long-term budget forecast in line with independent estimates.
The new projections add approximately $2 trillion to budget deficits through 2019. Earlier this year, the administration had predicted that Obama’s policies would require the government to spend $7.108 trillion more than it collects in tax revenue over the next decade.
I’ve got an idea…let’s spend another trillion on health reform next month!
Category: Energy & Economy |