Home › T19 Categories › * Economics, Politics › (AP) CBO: Administration Budget understates deficits by $2.3 trillion

(AP) CBO: Administration Budget understates deficits by $2.3 trillion

Posted on March 20, 2011 by Kendall Harmon

A new assessment of President Barack Obama’s budget released Friday says the White House underestimates future budget deficits by more than $2 trillion over the upcoming decade.

The estimate from the nonpartisan Congressional Budget Office says that if Obama’s February budget submission is enacted into law it would produce deficits totaling $9.5 trillion over 10 years — an average of almost $1 trillion a year.

Obama’s budget saw deficits totaling $7.2 trillion over the same period.

Read it all.

Posted in * Economics, Politics, Budget, Economy, House of Representatives, Office of the President, Politics in General, President Barack Obama, Senate, The National Deficit, The U.S. Government

3 comments on “(AP) CBO: Administration Budget understates deficits by $2.3 trillion”

  1. Larry Morse says:
    March 20, 2011 at 5:00 pm

    Surprise. L

  2. tgs says:
    March 20, 2011 at 6:45 pm

    Obviously Mr. Obama came into office with a well laid out plan to complete the makeover of America from a Constitutional Republic to a socialistic highly regulated economic basket case. Whether he constructed the plan or it was given to him to carry out (the most likely scenario), the man has done an excellent job of implementing it. He is no dummy. To see where his plan is carrying us just look at Argentina.

  3. tgs says:
    March 21, 2011 at 5:57 pm

    #3. Its no surprise that many don’t buy it and that’s your prerogative, but there it is. Open your eyes.