Friday, March 26, 2010

Unsustainable, That's What They Are

Sing it with Nat King Cole, unsustainable through near and far.  Like a song of debt that clings to me, the CBO finds the 2011 Obama administration budget unsustainable in every way:
President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

In its 2011 budget, which the White House Office of Management and Budget (OMB) released Feb. 1, the administration projected a 10-year deficit total of $8.53 trillion. After looking it over, CBO said in its final analysis, released Thursday, that the president's budget would generate a combined $9.75 trillion in deficits over the next decade.
 That's why Democratic majorities are so regrettable.  And forever more that's how they'll stay... at least until November.
More at Potluck
Via Memeorandum

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