Brother can you spare 2 trillion dollars?
I am sure the timing behind the release of this information--late on a Friday afternoon--is purely coincidental.
Obama to raise 10-year deficit to $9 trillion
WASHINGTON (Reuters) - The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.
The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama's opponents, who say his spending plans are too expensive in light of budget shortfalls.
That is some news for us to ponder as we all head off to Martha's Vineyard to spend some time in an oceanfront mansion enjoying some good food, some good drink, some water sports perhaps, and maybe some... oh, wait... that's Obama that's going.
The rest of us? Well, we need to get busy figuring out how to come up with two more trillion dollars because the president is going to be busy. We wouldn't want to ruin his vacation now would we?
900 billion a year PLUS INTEREST! I remember when the entire national budget was under 1 trillion and when it passed a trillion my father just shaking his head, dumbfounded.
Nostalgia time.
Remember all those clucking tongues over the Bush deficits of two hundred billion dollars and shrinking?
Funny, I don't hear those same people showing shock or disgust over Obama's deficits.
I hate cult of personality thinking.