Yeah! New CBO report

[Gaspar]

The CBO now says that Obama's budget is going to lead to annual deficits averaging $1 trillion for the next decade. 

The CBO also says deficits of that magnitude would force the Treasury to continue borrowing at prodigious rates, sending the national debt soaring to 90% of the economy by 2020.  That brings us to $800B in interest payments.  They have also dropped their estimates on tax revenue.

At least we have a "blue ribbon deficit panel" now headed up by union leader and political "bundler" Andrew Stern ($60 million to the Obama election campaign). 

Oh boy.  I guess it's just the Chicago way.

I'm going to start learning Chinese.

[guido911]

It's all Bush's fault. And for learning Chinese, I am buying Rosetta Stone asap.

[Gaspar]

It's all Bush's fault. And for learning Chinese, I am buying Rosetta Stone asap.

My daughter is going to do the Chinese program at Jenks.  She will be ready for her new overlords.

[we vs us]

The CBO now says that Obama's budget is going to lead to annual deficits averaging $1 trillion for the next decade. 

The CBO also says deficits of that magnitude would force the Treasury to continue borrowing at prodigious rates, sending the national debt soaring to 90% of the economy by 2020.  That brings us to $800B in interest payments.  They have also dropped their estimates on tax revenue.

At least we have a "blue ribbon deficit panel" now headed up by union leader and political "bundler" Andrew Stern ($60 million to the Obama election campaign). 

Oh boy.  I guess it's just the Chicago way.

I'm going to start learning Chinese.

Link please?

[Conan71]

I mean, seriously, what is the logic being used to justify such huge deficit spending?  This is totally out of control, like turning a bunch of drunks loose in a casino with a stack of credit cards with no credit limit.

[guido911]

Link please?

I didn't start this thread but I think the OP was referring to this:

http://www.washingtonpost.com/wp-dyn/content/article/2010/03/05/AR2010030502974.html

[Gaspar]

I didn't start this thread but I think the OP was referring to this:

http://www.washingtonpost.com/wp-dyn/content/article/2010/03/05/AR2010030502974.html

Actually I made it all up.  This administration would never be responsible for such idiocy.