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I have GREAT Credit!

Discussion in 'The Okie Corral' started by StarShip2100, Mar 26, 2010.

  1. StarShip2100

    StarShip2100 Futurist

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    Wow - I didnt realize that my credit was this good!! :wavey:

    http://www.washingtontimes.com/news/2010/mar/26/cbos-2020-vision-debt-will-rise-to-90-of-gdp/

    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.

    "An additional $1.2 trillion in debt dumped on [GDP] to our children makes a huge difference," said Brian Riedl, a budget analyst at the conservative Heritage Foundation. "That represents an additional debt of $10,000 per household above and beyond the federal debt they are already carrying."
    The federal public debt, which was $6.3 trillion ($56,000 per household) when Mr. Obama entered office amid an economic crisis, totals $8.2 trillion ($72,000 per household) today, and it's headed toward $20.3 trillion (more than $170,000 per household) in 2020, according to CBO's deficit estimates.
     
  2. devildog2067

    devildog2067

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    How much deficit did the Bush presidency run per year? I'm genuinely curious, not trying to start a flame war. Was it more or less than this < 1 trillion per year projected for this budget?
     

  3. crimsonaudio

    crimsonaudio 15 or 30?

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    [​IMG]