Reid Says "We don't need a budget!"

[Gaspar]

Not that it matters, because the idea of a budget under this administration is simply a novelty, but. . .

The CBO has now scored President Obama's Budget.
http://p.washingtontimes.com/news/2012/mar/16/cbo-obama-budget-deepens-debt-35-trillion/

"President Obama's budget would pile up an additional $3.5 trillion in debt over the next 10 years and shows the government's trust funds running out of money in 2020, Congress's official non-partisan scorekeeper said Friday.

In 2012 alone Mr. Obama's budget would leave a $1.3 trillion deficit — $82 billion worse than if none of his policies were enacted. Over the next ten years the deficit would dip to less than a half-trillion dollars in 2017, but would rise again in the later years.

By 2022, a decade from now, the federal government would spend $5.6 trillion and take in $4.9 trillion in revenue — both figures far outstripping today's levels.

CBO's analysis also shows the government's combined trust funds, including the Social Security trust funds and the cash flow of the Postal Service, will begin running deficits in 2020."

Of course you can always multiply CBO estimates by whatever number you are comfortable with.

Someone needs to investigate the CBO.  I suspect they must be racist!

[nathanm]

Yes, with the economy still far from full employment, it is to be expected we would continue to run large budget deficits. That's how countercyclical spending works. It wouldn't be so much of a problem if the last group hadn't decided that they ought to run up the debt even higher than it already was when the economy was doing well.

[we vs us]

Not that it matters, because the idea of a budget under this administration is simply a novelty, but. . .

The CBO has now scored President Obama's Budget.
http://p.washingtontimes.com/news/2012/mar/16/cbo-obama-budget-deepens-debt-35-trillion/

"President Obama's budget would pile up an additional $3.5 trillion in debt over the next 10 years and shows the government's trust funds running out of money in 2020, Congress's official non-partisan scorekeeper said Friday.

In 2012 alone Mr. Obama's budget would leave a $1.3 trillion deficit — $82 billion worse than if none of his policies were enacted. Over the next ten years the deficit would dip to less than a half-trillion dollars in 2017, but would rise again in the later years.

By 2022, a decade from now, the federal government would spend $5.6 trillion and take in $4.9 trillion in revenue — both figures far outstripping today's levels.

CBO's analysis also shows the government's combined trust funds, including the Social Security trust funds and the cash flow of the Postal Service, will begin running deficits in 2020."

Of course you can always multiply CBO estimates by whatever number you are comfortable with.

Someone needs to investigate the CBO.  I suspect they must be racist!

My Mother Jones to your Washington Times:

The current estimate of the gross costs of the coverage provisions ($1,496 billion through 2021) is about $50 billion higher than last year's projection; however, the other budgetary effects of those provisions, which partially offset those gross costs, also have increased in CBO and JCT's estimates (to $413 billion), leading to the small decrease in the net 10-year tally.

In actuality, the CBO estimate decreased over ten years.  The Republicans, nor their house organs (like the Washington Times) will report that, however.

[Gaspar]

My Mother Jones to your Washington Times:

In actuality, the CBO estimate decreased over ten years.  The Republicans, nor their house organs (like the Washington Times) will report that, however.

My Huffington Post to your Mother Jones.  What? Huh?

http://www.huffingtonpost.com/2012/03/16/obama-budget-deficit-cbo_n_1353481.html?ref=politics

"WASHINGTON — A new analysis of President Barack Obama's budget for next year says the deficit scenario isn't as rosy as the White House painted it.

Friday's Congressional Budget Office report said Obama's budget would produce a $977 billion deficit next year – $75 billion more than predicted by the White House."

After the big bump the deficit goes down, made up by new anticipated revenue, but then it shoots on up at an even speedier rate, and the loading of entitlement programs weighs down the machine.  Of course, I will reiterate that CBO estimates start out grey, then get pink, then red.  By the time this is revised next year it will double or perhaps even triple. Remember, it's a racist plot.

[heironymouspasparagus]

My Huffington Post to your Mother Jones.  What? Huh?

http://www.huffingtonpost.com/2012/03/16/obama-budget-deficit-cbo_n_1353481.html?ref=politics

"WASHINGTON — A new analysis of President Barack Obama's budget for next year says the deficit scenario isn't as rosy as the White House painted it.

Friday's Congressional Budget Office report said Obama's budget would produce a $977 billion deficit next year – $75 billion more than predicted by the White House."

After the big bump the deficit goes down, made up by new anticipated revenue, but then it shoots on up at an even speedier rate, and the loading of entitlement programs weighs down the machine.  Of course, I will reiterate that CBO estimates start out grey, then get pink, then red.  By the time this is revised next year it will double or perhaps even triple. Remember, it's a racist plot.

And isn't it even more amazing that it is a full $1 trillion dollars less than the deficit from the year before he took office!!  That's 1/2 the deficit he inherited!

But hey, keep on ignoring reality... I'm sure the Republicontins will make it all better if they win...

[Gaspar]

And isn't it even more amazing that it is a full $1 trillion dollars less than the deficit from the year before he took office!!  That's 1/2 the deficit he inherited!

But hey, keep on ignoring reality... I'm sure the Republicontins will make it all better if they win...

What, not quite.

FY 2008: $459 billion
FY 2009: $1,413 billion

[nathanm]

What, not quite.

FY 2008: $459 billion
FY 2009: $1,413 billion

You do realize that FY2009 began in calendar year 2008, right?

[Hoss]

You do realize that FY2009 began in calendar year 2008, right?

You realize that doesn't matter to Gas, right?

[Gaspar]

Yes, and yes.

[nathanm]

Yes, and yes.

Thanks for being so honest about being intentionally misleading. 

[Gaspar]

Thanks for being so honest about being intentionally misleading. 

If your math indicates that 400Bil = 1Tril than I suppose so.

[ZYX]

If your math indicates that 400Bil = 1Tril than then I suppose so.

Sorry

[heironymouspasparagus]

What, not quite.

FY 2008: $459 billion
FY 2009: $1,413 billion

Well, yeah...quite.  From 9/30/2008 to 9 30/2009, the debt increased by approx. $1.9 trillion.  From 9/30/2009 to 9/30/2010, it increased by approx. $1.66 trillion.  That is a reduction - look it up - and since the estimate for this year is about $1 trillion, that means it is almost (not quite, but close) 1/2 of what it was.

The big difference in the numbers you see through those Republicontin glasses is the fact that Baby Bush reported hundreds of billions "off budget", while ole' what's-his-face stopped that practice and started putting the war numbers in the budget numbers.

Reality!!  Take a big bite sometime - you might enjoy it!

Debt records - back to 1791.
http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

[Gaspar]

Dems punt again.
http://www.washingtontimes.com/news/2012/apr/17/democrats-punt-on-senate-budget-bill-for-3rd-year/

[Conan71]

Too bad they can't be fired for dereliction of duty, other than at election time.