Obama Administration to Adjust Projected Deficit; $7 Trillion 10-Year-Defict to Become... $9 Trillion

From $7 trillion to $9 trillion is a change, you have to admit.

He's moving his numbers out of unicorn-and-pixie fantasy-land closer to accordance with the CBO's.

The Obama administration will raise its 10-year budget deficit projection to roughly $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.
"The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year," said the official, who is familiar with the plans.
"Our budget projections are now in line with the spring and summer projections that the Congressional Budget Office put out."
The CBO said in June that deficits between 2010 and 2019 would total $9.1 trillion. The official said the 2010-2019 cumulative deficit projection replaces the administration's previous estimate of $7.108 trillion.
The record-breaking deficits have raised concerns about U.S. ability to finance that debt and whether the United States can maintain its top-tier AAA credit rating.

Quick, let's expand federal spending beyond all imagination. The time is right.

I recall Joe Biden's statement, "We have to spend in order to avoid bankruptcy." Well! We must really be in the black now, baby!

Thanks to AHFF Geoff.

Posted by: Ace at 05:41 PM

Comments

1 I wonder if Dum-Dum still thinks the budget will be balanced in 2012.

Posted by: Waterhouse at August 21, 2009 05:42 PM (NtGZ6)

are we going to have an america left, or will we have a new name chirabia?

Posted by: willow at August 21, 2009 05:44 PM (1kwr2)

3 Let me be clear, as I have always said, the 10-year deficit will be about $9 trillion.

Posted by: Barack Obama at August 21, 2009 05:44 PM (saRwI)

I have always said ...i like a good

crisis

Posted by: willow at August 21, 2009 05:45 PM (1kwr2)

5 We are circling the drain.

Posted by: kefka at August 21, 2009 05:46 PM (udoJ3)

6 9 Trillion effing dollars. Yes We Can!

Posted by: Trish at August 21, 2009 05:49 PM (0U5Kd)

7 Every Friday afternoon, like clockwork . . .

Posted by: Red-faced McGee at August 21, 2009 05:49 PM (cxGtL)

handing Kefka half of my xanax

Posted by: willow at August 21, 2009 05:49 PM (1kwr2)

9 Time to stock up on guns, ammo and a little Value-Rite vodka. They'll be so many hobos on the streets they'll kill each other for a sip; all you'll have to do is drag the carcasses away.

Posted by: David in San Diego at August 21, 2009 05:50 PM (GF+6V)

10 ok we have Tea Party's what else can we do? Do we have a Lee Iococca (sp) around ? on our team?

Posted by: willow at August 21, 2009 05:51 PM (1kwr2)

11 Wait, wait....let me guess....it's Bush's fault?

Do I win a prize?

Posted by: DrewM. at August 21, 2009 05:51 PM (iTt2X)

12 A trillion here, a trillion there, pretty soon you are talking real money.

Posted by: Everett Dirksen at August 21, 2009 05:51 PM (9p0nw)

13 Xanax?

Pansy.

Bucephalus-sized doses of horse tranquilizers are the only thing that gets me through a day in Obambi's America.

Posted by: IllTemperedCur at August 21, 2009 05:52 PM (btril)

14 Do I win a prize?

Posted by: DrewM. at August 21, 2009 05:51 PM (iTt2X)

No...52% of respondents had the same answer.

Posted by: Tami at August 21, 2009 05:53 PM (VuLos)

15 Ill, sheesh well don't tell us where you live or we will be showing up shortly begging .

Posted by: willow at August 21, 2009 05:54 PM (1kwr2)

16 Is this why my wife keeps shouting "Joe Biden told me to! He told me to!" every time she runs out to the shoe store?

Posted by: mr.frakypants at August 21, 2009 05:54 PM (pffBj)

17 We're doing GREAT here in Kalifornia, unemployment now stands at 11.9%.
Obamanomics is working!

Posted by: GarandFan at August 21, 2009 05:54 PM (qKTIT)

18 But...but... he's a graduate of Harvard! He's the smartest man in the world! Move over, it's time for the adults to take over!

And all that other shit the lefties (and way too any 'moderates') swallowed, hook, line and sinker.

Posted by: I Am Jack's Atypical Appendix at August 21, 2009 05:55 PM (8XI4A)

19 Those greedy doctors took out more tonsils and amputated more feet than we expected. Pass My health plan, and we'll get that extra couple of trillion dollars back!

Posted by: Barack Obama at August 21, 2009 05:55 PM (tcMQZ)

20 Is this it. No other Friday dumps?

Posted by: Trish at August 21, 2009 05:55 PM (0U5Kd)

21 wow, for the first time I can remember, the financial blogs have beaten you guys to the drinking games.

Posted by: muffy at August 21, 2009 05:56 PM (p302b)

22 pretty soon we might hear,"free loaf of bread today for all!" no pushing, stop that, sell ya my daughter for your piece.

Posted by: willow at August 21, 2009 05:56 PM (1kwr2)

23 A bank in Georgia, yawn.

Posted by: muffy at August 21, 2009 05:57 PM (p302b)

24 willow, I thought it was cheese?

Posted by: muffy at August 21, 2009 05:57 PM (p302b)

handing Kefka half of my xanax

Posted by: willow at August 21, 2009 05:49 PM (1kwr2)

What, is it too soon to freak out yet? Damn.

Posted by: kefka at August 21, 2009 05:57 PM (udoJ3)

Hey, you know what will help? Another Crapulus^tm AND a trillion for health care.

But the whole missile defense and F-22 things? Statistical effing noise in that poisonous soup.

Posted by: Circa (Insert Year Here) at August 21, 2009 05:58 PM (B+qrE)

20 Is this it. No other Friday dumps?

Aside from the ambulent result of a Taco Bell-induced dump occupying the White House?

Posted by: Mr. Hankey at August 21, 2009 05:59 PM (tcMQZ)

28 #25 What, is it too soon to freak out yet? Damn.

In the end, there will be only chaos!

Posted by: Kratos (on the back of Gaia, scaling Mt Olympus) at August 21, 2009 06:00 PM (otlXg)

29 "The sole branch of ebank will reopen on Monday as a branch of Stearns Bank, N.A. Depositors of ebank will automatically become depositors of Stearns Bank, N.A. Depositors will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until Stearns Bank, N.A. can fully integrate the deposit records of ebank."

Posted by: muffy at August 21, 2009 06:00 PM (p302b)

30 And to think, I used to look forward to Fridays, now they fill me with dread.

Posted by: 4thGenerationBuck at August 21, 2009 06:02 PM (AtjNL)

31 http://tinyurl.com/ndgz94

Posted by: muffy at August 21, 2009 06:02 PM (p302b)

32 And I'll bet this is without realisitic numbers for BambiCare. That'll add another tril on top of the pile.

Posted by: rockhead at August 21, 2009 06:03 PM (RykTt)

33 We're doing GREAT here in Kalifornia, unemployment now stands at 11.9%.

Oh man. 11.9%? Practically full employment compared to Michigan.

Posted by: leoncaruthers at August 21, 2009 06:05 PM (JSO4h)

34 Here's your solution: Tax cuts and reduced spending during a recession. Which is insane.

Posted by: Dharmalite at August 21, 2009 06:05 PM (ErPPo)

35 ll, sheesh well don't tell us where you live or we will be showing up shortly begging .

Look on the bright side. When ObamaCare goes into effect, you can look forward to a daily ration of soma. It'll keep your mind off the reduction in your chocolate ration.

Posted by: IllTemperedCur at August 21, 2009 06:06 PM (btril)

heck that would require a son and a daughte

,muffy at August 21, 2009

Posted by: willow at August 21, 2009 06:06 PM (1kwr2)

IllTemperedCur at August 21, 2009

whew, honestly the stress is getting to me. i'm up to a panic attack every coupel of days

Posted by: willow at August 21, 2009 06:08 PM (1kwr2)

38 The reason there's 12% unemployment in Gullyfornyuh, is because you fucking idiots contracted state spending during a recession.

Posted by: Dharmalite at August 21, 2009 06:08 PM (ErPPo)

39 Oh hell, what's another trillion or two or three... or four... or five...

Posted by: CoolCzech at August 21, 2009 06:09 PM (kzhuA)

40 muffy, wasn't the FDIC basically tapped out last week (or the week before) when Colonial (I think) went under?

Posted by: Methos at August 21, 2009 06:09 PM (aAtZG)

41 Why, if the government continues to spend like this, pretty soon they'll be making so much money they'll stop making us pay taxes and just hand out free money to everyone (instead of just handing out other people's money to everyone).

Posted by: Cautiously Pessimistic at August 21, 2009 06:09 PM (XIXhw)

42 Even the CBO's models aren't sophisticated enough to predict the negative feedback that results with Obamanomics. The Galt-going, the holding off on investing, the saving, the wealth destruction.

It will be worse.

Posted by: tachyonshuggy at August 21, 2009 06:09 PM (TXp3z)

43 And the big eared coward dumps this news while running out of town for his 10th vacation.

Posted by: Axe Slinger at August 21, 2009 06:11 PM (f8fq/)

44 Herbert Hoover II

Posted by: toby928 at August 21, 2009 06:12 PM (PD1tk)

45 Well! We must really be in the black now, baby!

Hey, tack another couple billion on while we are at it...we need a rainy day fund!

Posted by: Punch A Hippie at August 21, 2009 06:12 PM (LSydU)

Peggy Noonan at HA... "Pull the Plug on ObamaCare". She thinks Obama would regain popularity if he admits he screwed up, and she give the example of JFK after the Bay of Pigs... don't recall that one, exactly - thought he pretty much deflected blame onto the CIA. Then she writes:

"Critics of George W. Bush will say here, "Did he ever show wry self-criticism?" No, he didn't. And that's why it ended so well for him."

Now my impression is that GWB was often wryly self-deprecating. Lack of wry self-criticism was not his problem... it was a lack balance between loyalty and good judgement about some people (and that's different from being in the habit of hiring crooks, by the way), and most of all the unwillingness to go bare-knuckle with the media and his political enemies.

Oh, and guess what, Peggy has a book coming out!!

"Patriotic Grace... How Republicans Can Show Their Patriotism by Being More Gracious to Democrats".

I typed that from memory, so I might have accidently embellished that subtitle a bit, but I suspect that would be the gist of it. If it had one.

Shockingly, I suspect I will not only forget to buy her book, but that I will also forget to ever think about it again, ever. And I don't think Michelle Malkin has to worry about being knocked out of #1 on the NYT Bestseller list.

Posted by: sherlock at August 21, 2009 06:13 PM (FoYPf)

Spend! Spend! Spend! Can I write you a check for that?

Posted by: Obama voter at Wal-Mart at August 21, 2009 06:14 PM (wAQA5)

48 I recommend using scientific notation to deal with the enormity of ObamaDebt

$9e12 has such a wonderful starkness to it.

Posted by: Techie at August 21, 2009 06:14 PM (cxW4X)

49 seriously, Is this being done intentionally?

Posted by: willow at August 21, 2009 06:14 PM (1kwr2)

50 Aston Martins for everyone at this rate!!

Posted by: Joe Fuckin' Biden at August 21, 2009 06:15 PM (b/a/H)

51 $9,000,000,000,000.00

Posted by: toby928 at August 21, 2009 06:15 PM (PD1tk)

52 seriously, Is this being done intentionally?

Of course not.

Posted by: Cloward at August 21, 2009 06:17 PM (TXp3z)

53 The reason there's 12% unemployment in Gullyfornyuh, is because you fucking idiots contracted state spending during a recession.

Please tell me how your super-smart theory explain MI at 15% after expanding government spending for years before and during the recession (i.e. every year Jenny Grandstand has been governor)? Points will be deducted if you chalk it up entirely to what used to be the domestic auto industry.

Posted by: leoncaruthers at August 21, 2009 06:17 PM (JSO4h)

54 seriously, Is this being done intentionally?

That's crazy talk.

Posted by: Piven at August 21, 2009 06:17 PM (TXp3z)

#28 In the end, there will be only chaos!

First good news today: if that's true we clearly must be a lot closer to the end of this clusterfuck than it feels like!

Posted by: sherlock at August 21, 2009 06:17 PM (FoYPf)

56 http://tinyurl.com/kjnwe7

I'll need a new wallet. Coach or Dooney & Bourke?

Posted by: Tami at August 21, 2009 06:20 PM (VuLos)

57 have the Obamots given another explanation about how this continues to be Bush's fault?

Posted by: Jones at August 21, 2009 06:20 PM (KOkrW)

58 11: Do I win a prize?

Yes, thanks for asking...Higher taxes! The information will be mailed to you around Feb. of 2010.

Posted by: Punch A Hippie at August 21, 2009 06:21 PM (LSydU)

59 This was all caused by Bush's tax cuts.

Posted by: brak at August 21, 2009 06:22 PM (iRx6Z)

60 Methos, I have a lot of faith in Sheila. I think she can pull rabbits out of hats.

Posted by: muffy at August 21, 2009 06:23 PM (p302b)

61 Where can I go wee-wee?

Posted by: Obama voter at Wal-Mart at August 21, 2009 06:23 PM (wAQA5)

62 56: I'll need a new wallet. Coach or Dooney & Bourke?

Why because the government took your old one? Don't buy a new one they will just take that one also.

Posted by: Punch A Hippie at August 21, 2009 06:23 PM (LSydU)

63 drudge says the prez left for his vacation.

Posted by: muffy at August 21, 2009 06:24 PM (p302b)

64 52 seriously, Is this being done intentionally?
Of course not.
Posted by: Cloward at August 21, 2009 06:17 PM (TXp3z)

I concur. Nothing to see here, move along...

Posted by: Piven at August 21, 2009 06:27 PM (OKZrE)

65 #34. Here's your solution: Tax cuts and reduced spending during a recession. Which is insane.

Of course don't say why it's insane, just say say it's "insane" because your gov't faith requires it. I guess you just spend, spend, spend money as soon as it comes in and get way over your head into debt. Joe Biden must have learned economics from your dumb ass.

And look up Laffer Curve, okay?

Posted by: Kratos (on the back of Gaia, scaling Mt Olympus) at August 21, 2009 06:29 PM (otlXg)

66 For the umm... other minded folks: web bot project has put a hit on the 22nd of August, supposedly the failure of the derivatives market, but could be something else.

/and if you like that, how about a market crash the 3rd/4th week of September?

Posted by: shibumi at August 21, 2009 06:30 PM (OKZrE)

67 64 52 seriously, Is this being done intentionally?
Of course not.
Posted by: Cloward at August 21, 2009 06:17 PM (TXp3z)

I concur. Nothing to see here, move along...

You guys may have set the stage for my return, but there will be only me in the end!

Posted by: The Manifestation of Chaos at August 21, 2009 06:30 PM (otlXg)

68 You idiots aren't with the plan for perpetual prosperity

1. Borrow trillions more
2. ????
3. Blame Bush!

Posted by: dum-dum the only econist on AoS at August 21, 2009 06:30 PM (0Lv+U)

69 muffy, Sheila?
I think I read that 'FDIC probably out of money' on that market ticker guy. But then, the government has had all week to run the printing presses, so they're probably all set again.

Posted by: Methos at August 21, 2009 06:31 PM (aAtZG)

Piven at August 21, 2009 06:27

k, i was hoping for my childrens sake i was just nuts.

Posted by: willow at August 21, 2009 06:31 PM (1kwr2)

71 We might not get to see beach pics of King Barry's moobs and Worf's awesome toned arms since he's going the Mahthah's Vinyid, right in the path of Hurricane Bill

Posted by: kbdabear at August 21, 2009 06:32 PM (0Lv+U)

So when do we start weighing our money? I think they were doing that in Iraq - may still for all I know.

"I'm Gordon Liddy, and I want to show you how to protect your future...GOLD!"

Posted by: Knaws at August 21, 2009 06:32 PM (H9yZ/)

73 2 trillion MORE? Looks like I'd better order more paper and green ink

Posted by: Bubble Ben Bernancke at August 21, 2009 06:33 PM (0Lv+U)

74 I'm not going to make one investment move until poon tells us how this will be great for the stock market and dum-dum explains to us how going 2 trillion more into the hole equals a surplus

Posted by: kbdabear at August 21, 2009 06:34 PM (0Lv+U)

We must really be in the black now, baby!

Racist! RACIST!!!!

Posted by: moonbat central at August 21, 2009 06:35 PM (mPOO8)

76 So I looked up that web bot, and their site claims their first success was a life altering event within 60-90 days, time right to 'predict 9/11.

Last I checked, the American people put the Democrats in charge of everything, so life altering must not mean an event we would learn anything from.

Posted by: Methos at August 21, 2009 06:35 PM (aAtZG)

: Knaws at August 21, 2009 ,

Heh, i have enough pennys to make many pots pans and ladles, hope they won't poison anyone

Posted by: willow at August 21, 2009 06:38 PM (1kwr2)

78 Um, yeah. Like Team Obama didn't know I'd be willing to show some skin for him, but only temporarily. Time to move on down the road. This John is tapped out.

Posted by: Rosy Scenario at August 21, 2009 06:38 PM (JamGx)

79 We might not get to see beach pics of King Barry's moobs and Worf's awesome toned arms since he's going the Mahthah's Vinyid, right in the path of Hurricane Bill

He shall calm the waves and part the seas, while thou busily render unto Caesar.
Barack 1:1-2

Posted by: I Am Jack's Nontoxic Goiter at August 21, 2009 06:43 PM (8XI4A)

80
77Heh, i have enough pennys to make many pots pans and ladles, hope they won't poison anyone

Ya, copper plated zinc poisoning is the worst.

Posted by: Punch A Hippie at August 21, 2009 06:44 PM (LSydU)

81 The reason there's 12% unemployment in Gullyfornyuh, is because you fucking idiots contracted state spending during a recession.

I'll take economic illiteracy and ignorance of other states for two trillion, Alex.

Posted by: Circa (Insert Year Here) at August 21, 2009 06:44 PM (qoAMF)

82 Would you take a check?

Posted by: shifty looking country at the checkout counter at August 21, 2009 06:49 PM (yP5sH)

83 from the big picture blog

Posted by: muffy at August 21, 2009 06:51 PM (p302b)

84 Would you take a check?

Careful there. The check verification company might have outsourced to China. Wouldn't want them to get curious about the economic health of the old US of A and run a credit check.

Posted by: I Am Jack's Stimulating Macroglossia at August 21, 2009 06:53 PM (8XI4A)

85 Methos, Sheila has been fighting everyone else for her FDIC. Yeah she is messing up but she is trying.

Posted by: muffy at August 21, 2009 06:54 PM (p302b)

86 Well it is Friday, time for the Obama regime to take a data dump on us.

Posted by: Rickshaw Jack at August 21, 2009 06:55 PM (bHSTt)

87 Just a wee-wee bit more deficit

Posted by: George Orwell at August 21, 2009 06:56 PM (AZGON)

88 The reason there's 12% unemployment in Gullyfornyuh, is because you fucking idiots contracted state spending during a recession.

Oh it's so cute when they try to formulate coherent thoughts. You can just see the tiny wheels moving only to spin off their axles, fall apart, and crash into a pile in the pit of their skulls.

Posted by: Chimney Sweep #8 at August 21, 2009 07:00 PM (kIjlp)

"The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year..."

Yes, DrewM, Bush's fault.

I think the Dems can get on board with the whole "Drill Baby Drill" mantra. Only they will be drilling our wallets.

Posted by: runningrn at August 21, 2009 07:04 PM (D2il9)

90 You fuckers!

I'm not even born and I'm already $100,000 in debt.

Posted by: The Unborn Guy at August 21, 2009 07:08 PM (oEAm5)

91
$9 Trillion! No problem, just ask Peggy Joseph you right wing whack jobs.

Posted by: Fish at August 21, 2009 07:09 PM (FnA4R)

92
91 is a bad link.....do not click.

Posted by: Fish at August 21, 2009 07:12 PM (FnA4R)

93 91 is a bad link.....do not click.

Too late you commie bastid. :~)

Posted by: I Am Jack's Xerostomia at August 21, 2009 07:17 PM (8XI4A)

94
hahaha, we have the Bernie Madoff of presidents

Posted by: Tweet, Stills & Nash and Young at August 21, 2009 07:22 PM (ZyYZ0)

Posted by: sherlock at August 21, 2009 06:13 PM (FoYPf)

Agree absolutely.

When I was taking my grandson to the doctor yesterday, we saw a bumpersticker (in SE Michigan) -- "Don't tell Obama what comes after a trillion." We both laughed (I'm indoctrinating him with conservatism).

Posted by: iamfelix at August 21, 2009 07:29 PM (SrE4z)

96 I thought that I heard, the the WH claimed that absolutely, there would be a decline in the deficit. Of course I did not hear in what decade. It night have been 2050 they were talking about. Words, just words. Hey, Obama thinks that he cannot be wrong all the time. after all, he won.

Posted by: Mystry at August 21, 2009 07:32 PM (dIHlE)

97 Why are you guys all freaking out about this for? It's only money. We have bigger things to worry about, like what am I gonna wear on The View(shameless plug).
Allah's gonna toss my salad tonight, he's in for a treat cause I had Taco Bell for lunch. SHhhh...don't tell him.

Posted by: MegMac at August 21, 2009 07:32 PM (f8fq/)

98 Drink!

Posted by: Dang Straights at August 21, 2009 07:34 PM (wJ53+)

99 Somebody told him there would be no math in this administratoin.

Posted by: Douglas at August 21, 2009 07:36 PM (uU+Ss)

100 You fuckers!

I'm not even born and I'm already $100,000 in debt.

Posted by: The Unborn Guy at August 21, 2009 07:08 PM (oEAm5)

Whatever. I escaped an abortion and some nurse put me in a closet to die.

Posted by: Stubborn Fetus at August 21, 2009 07:37 PM (QoR4a)

101 I inherited all these future deficits.

Posted by: President Wee Wee at August 21, 2009 07:37 PM (sZ7XD)

102 Didn't the federal Government/Obama claim the the recession is now over. You had to have gotten the email from axelrod by now. SPEND SPEND SPEND.

Posted by: Mystry at August 21, 2009 07:39 PM (dIHlE)

103 quick! trot out the bank closings...it's late Friday afternoon!

_{Nobody will notice...}

Posted by: torabora at August 21, 2009 07:48 PM (a9fk6)

104

willow at August 21

There you go solving two problems at once. Poison people to reduce future health care costs and reduce the money supply at the same time.

Posted by: Knaws at August 21, 2009 07:50 PM (H9yZ/)

105 Huck is winning my vote right now.

Posted by: Anti-Harkonnen Freedom Fighter at August 21, 2009 08:05 PM (5r0Tz)

106 Frankly, I think we've arrived at the point it may as well be a $100 Trillion deficit.

The same Liberals that whined for 8 years about the trade deficit and the Bush deficit - both trivial compared to the Obama Atrocity - still would refuse to criticize the sheer size of it.

And the simple fact it: there is simply no way this money can ever be paid back in real dollars. Especially if the Obama Health Catastrophic Implosion is actually enacted.

Brace yourselves for a decade or two of 1970's type inflation - and that's the BEST case scenario.

Posted by: CoolCzech at August 21, 2009 08:20 PM (kzhuA)

107

Only race will keep this carpetbagger, Obama, from being tarred and

feathered. There is still a plethora of white guilt in our electorate. Pelosi,

Reid, Emanuel, Biden, et al are still on the list for cannon fodder....if

we can find a conservative spokesman to light the fuse. You can't

kill an "Obama", even if you tried. They are ephemeral, and not

of this world.

Posted by: Trajan at August 21, 2009 08:32 PM (xyqw2)

108

Joyous news, citizens! It is our unending pleasure to announce that our projected deficit for the next ten years has been reduced to only nine trillion dollars!

Posted by: Ministry of Plenty at August 21, 2009 08:35 PM (bX8MD)

109

i sure wish there was some kind of magical legal document that one branch of government could use to stop another branch from doing really crazy things like monitizing the nation's debt, or creating new beaucracies with no Constitutional authority...

too bad we don't have something like that.

Posted by: shoey at August 21, 2009 08:57 PM (RxUMK)

110 That web bot site is freaky deaky. What a trip, if those market predictions are true.

Posted by: Tattoo DePlane at August 21, 2009 09:03 PM (rrxDo)

111 What's really wild, is that flock of stupid that descended on the Beck thread last night still thinks we have finally made it to Wonderland.

Posted by: Notsomebodyelse at August 21, 2009 09:13 PM (XUeYy)

112 The deficit is real but the announcement is pure political theatre. The new 2 trillion is going to help the administration justify scaling back their healthcare reform ambitions, and pass a simpler, smaller plan. With the aid of select media they'll tell the progressives it's the only "prudent" thing to do.

Posted by: elizabeth at August 21, 2009 09:27 PM (q2tSF)

113 It's almost as if Barry doesn't have the slightest idea about economics and finance. It's almost as if there is a complete idiot in charge of Barry's economic policy. Dum Dum did you finally get a job?

Posted by: TheQuietMan at August 21, 2009 09:38 PM (LIh+F)

114 I got a trillion dollars for my clunker.

So long, suckers!

Posted by: Winston Smith at August 21, 2009 09:51 PM (ZoXIL)

115 Another Friday hidden info dump? You'd think they would have tried another day by now, no? I expect the worst news to come on TGIF

Posted by: FloofyParisParamus at August 21, 2009 09:54 PM (ZCBYB)

116 burberry scarf

Posted by: CD key at August 21, 2009 10:08 PM (6oP7p)

117 warcraft3 CD key

Posted by: CD key at August 21, 2009 10:08 PM (6oP7p)

118 So there's a $2 Trillion increase in the deficit over the next 10 years from the previous numbers. And it's due to stuff that happened last year, before Obama was President.

Even the MSM can't be that dumb. And don't forget the reason for the difference between the O Team's numbers and the CBOs numbers previously. It was all about future growth rates. The O Team said growth rates would return to historical rates and the CBO said tax increases and Obamacare (I think) would depress growth rates. So now they come up to CBO numbers, but it's due to the fairly distant past? I hope Lucy Ramirez has a document to explain this.

Posted by: EBJ at August 21, 2009 10:22 PM (q2hik)

119 Good news! The magical unicorns chanting Hope and Change have decided to give Uncle Sam a loan! We'll have plenty of money for ObamaCare now!

Posted by: Aaron at August 21, 2009 10:27 PM (YV626)

120

Posted by: moon at August 21, 2009 11:19 PM (1LdKr)

121 granholm is still blaming engler two terms into her reign. if michigan voters are that stupid, and they appear to be, they get what they deserve. at least devos could have set up some pyramid scheme to get rid of our debt-he couldn't have been worse.

Posted by: ed at August 21, 2009 11:22 PM (jCTY1)

122

So... Obama's story is that his numbers were off because of stuff that happened LAST YEAR. Which his economic team didn't hear about until now because why?

Posted by: Calix at August 22, 2009 12:00 AM (IYnNe)

123 What's two trillion among friends anyway?

Posted by: Knaws at August 22, 2009 12:44 AM (H9yZ/)

124 While I have to grudgingly admit that there are a very few circumstances in which the Biden quote might make sense, it is, as a statement of general principle, the one of the single dumbest things anyone has ever said.

Posted by: Calix at August 22, 2009 12:50 AM (IYnNe)

125

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I'm a bidness man. If one of my managers missed his expense budget by almost 30% his ass would be on the street that day.

The freaking idiot in the White House needs canned--now.

2 freaking trillion dollars. We are so fucked. Our kids are so fucked.

I hope the asshole has a pleasant time on the Vineyard.

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$9 trillion? That's $9,000 billion. What'll happen is, somehow they'll manage to get it back down to a mere $6 trillion (probably by using smoke & mirrors), so then they'll be able to say, "See, our brilliant progressive policies reduced the deficit by $3 trillion!!!!! Aren't we wonderful?"

Things are really going well in D.C. Bottomless deficits, health-care bill in disarray, "cash for clunkers" abandoned as hopeless, the public in mutiny, .....

And Obama's going to hide out on a vacation.

With luck, he'll stay there until 2012.

"i sure wish there was some kind of magical legal document that one branch of government could use to stop another branch from doing really crazy things ..."

The three branches were originally set up (by people a lot smarter than what we've got today) so that each was a check on the other two. Only the House can spend money. The President has veto power and appoints to the Supreme Court. The Senate guarantees that every state has equal representation, the House guarantees that more populous states have more representation.

But now that Democrats control all three, nobody even wants to restrict the other two.

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