The Skyrocketing Deficit: How Scared Should We Be? — Politics Daily
President Obama Has A Lot To Balance These Days
We’ve come a long way from the days when Bill Clinton fumed over his new role as an “Eisenhower Republican,” driven to sacrifice his 1992 campaign pledges on the altar of deficit reduction. Nobody’s an Eisenhower Republican now, and it’s a little scary.
The nonpartisan Congressional Budget Office and the White House’s Office of Management and Budget are releasing new deficit projections Tuesday morning. The good news expected from OMB: Apparently the federal deficit will be $1.58 trillion, instead of $1.8 trillion, for the fiscal year that ends Sept. 30.
The bad news: That’s still really, really terrible. The worse news: Over the next 10 years, we thought the government was on track to spend $7.1 trillion more than it takes in. But now OMB thinks it’s looking more like $9 trillion.
via The Skyrocketing Deficit: How Scared Should We Be? — Politics Daily.
