The Congressional Budget Office (CBO) said President Barack Obama’s budget would lead to annual deficits averaging nearly $1 trillion for the next decade.
The estimates are for larger deficits than the budget shortfalls expected by the White House.
Annual deficits under Obama’s budget plan would be about $976 billion from 2011 through 2020, according to a CBO analysis of Obama’s plan released Friday.
The Obama administration estimated its policies would lead to an average annual budget shortfall of $853 billion for the next 10 years.
The difference is that Obama’s estimate expects more tax revenue.
Fat chance on that. And just where does he expect the money to come from. Small and large businesses have told the young President they will not hire with impending health and energy taxation hanging over their heads. Less hiring, higher unemployment, less spending equals less revenue. Perhaps they can find something they can tax more from people and business still in business, like the air we exhale. But what does Obama care (sorry for the pun)? Doesn’t it just play into his plans to control more and make more dependent on the state? Exit question. How will the Messiah explain this one away.