Most excellent: CBO says deficits $1 trillion a year for a decade
Hope and change, and of course all of this plays right into the hands of the One. Never let a crisis that you created go to waste. From The Hill (via instapundit).
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.
As bad as these numbers are, you?need ?to factor in the? “times 3” law when dealing with DC numbers. ?Why would any?rational ?human? put their life ?in the hands of a ruthless debtor? When the economic laws of gravity end the?ability to?borrow with reckless abandonment?, who will be denied? Will the department of rural electrification be closed? will bureocrats be fired? pensions of retired government workers cut? Will the bridge to nowhere contract be cancelled ? …..or will your? grandmother have her stretcher rolled out into the parking lot on a cold winter night? People?are going to?die in large numbers from service denials before one dollar is sacrificed from the political class. Just look around today at all the people suffering and the hard hearted politicians refuse to?cut ?their fair share of the sacrifices due.
When people finally realize that the difference between the deficit and the spending of the pols is their taxes, they might finally rise up and say "NO MORE!" But the sweet talking Obambi keeps saying the pablum of "not one dime in taxes" and "only those making $250K will pay taxes" to feed the class warfare and keep the masses tranquil.
Except those of us enlightened by Jim…… 😉