Obama's $9.3 Trillion Deficit

Finally, some responsible reporting on fiscal news that matters...

First on the list is International Herald Tribune's article on the big picture expense of Obama's proposed budget.

IHT.com-President Barack Obama's budget proposals, if carried out, would produce a staggering $9.3 trillion in total deficits over the next decade, much more than the White House has predicted, the Congressional Budget Office said on Friday.

The office's estimates of deficits in the fiscal years 2010 through 2019 "exceed those anticipated by the administration by $2.3 trillion." read more...

Second on the list is Sen. Judd Gregg (R-NH) trying to wake people up about the future of our fiscal realities if this budget goes through.

Yahoo News-The top Republican on the Senate Budget Committee says the Obama administration is on the right course to save the nation's financial system.

But Sen. Judd Gregg of New Hampshire also says President Barack Obama's massive budget proposal will bankrupt the country. read more...

Want to know how economically naieve our President is? Then read on. As we pointed out before, this budget proposal is unsustainable at present revenue generation levels. Taxes will have to be raised in order to sustain the size of the government the proglodytes are in favor of.

AP-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. read more...

Obama and his crew are either economically and fiscally handicapped or they are high-balling their budget estimate for maneuvering room. With a Congress willing to rubber stamp his every whim and his incisive campaigning for his budget a safe guess is the first conclusion. Still worried about AIG?