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#1
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TGIF! Bad News Dump!
W.H. hikes deficit estimate by $2 trillion!
The White House is likely to dramatically increase its projected 10-year budget deficit estimate next week by nearly $2 trillion, senior administration officials said Friday. Obama administration officials have concluded the economy was much worse last year — and tax revenues much lower — than they had initially assumed, which means that the estimated budget deficit will increase from $7 trillion to about $9 trillion over the coming decade. The planned revision was first reported by Reuters, and White House officials confirmed that account for POLITICO. There’s no doubt the revision will be interpreted as bad news for an administration whose deficit spending has emerged as a political Achilles' heel. Already, Republicans have been gaining political traction by accusing Obama of budget-busting spending. Earlier in the week, even billionaire investor Warren Buffett — a political supporter of Obama — wrote in an op-ed that massive spending leaves the nation in “uncharted fiscal territory.” Still, echoing the Obama line, he said stimulus spending is necessary in the short term, but that the government must take aggressive steps to curtail spending after the economy begins to grow again. That’s why any worsening of the deficit forecast is likely to be seen as bad news inside the White House. The timing of the story’s release fits a classic Washington media strategy of dumping bad news late on Fridays, as voters are less likely to hear about news that breaks on Friday nights and appears on a Saturday. Read more: http://www.politico.com/news/stories/0809/26352.html#ixzz0Ot2bI4Td |
#2
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No worries.........
Candidate Obama said he would cut the deficit in half.
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Palangi 2004 C240 Wagon 203.261 Baby Benz 2008 ML320 CDI Highway Cruiser 2006 Toyota Prius, Saving the Planet @ 48 mpg 2000 F-150, Destroying the Planet @ 20 mpg TRUMP .......... WHITEHOUSE HILLARY .........JAILHOUSE BERNIE .......... NUTHOUSE 0BAMA .......... OUTHOUSE |
#3
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Bush did it
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#4
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Sort-term spending to jumpstart the economy made sense, but unfortunately, the economic turnaround will be torturously slow in this country because WE DON'T MAKE ANYTHING!!! We just spend and consume!!!
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2009 ML350 (106K) - Family vehicle 2001 CLK430 Cabriolet (80K) - Wife's car 2005 BMW 645CI (138K) - My daily driver 2016 Mustang (32K) - Daughter's car |
#5
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How many people can afford stuff made by workers getting paid 40 bucks an hour + health benefits?
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1985 CA 300D Turbo , 213K mi |
#6
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That's just it: Short-term spending, which I fear will evolve into long-term spending. Failing big businesses are not yet finished extorting money from us. And why should the government not throw more of our money at these white-collar criminals? After all, when you have a bottomless pit of money & taxpayers lining up like sheep to the slaughter, the spending will never stop. This bailout crap has set a dangerous precedent. It never should have started to begin with.
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Don't Chrome them; polish them |
#7
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Quote:
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2009 ML350 (106K) - Family vehicle 2001 CLK430 Cabriolet (80K) - Wife's car 2005 BMW 645CI (138K) - My daily driver 2016 Mustang (32K) - Daughter's car |
#8
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Quote:
Don't worry. He's going to promise to fix that little mixup soon...
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. . M. G. Burg'10 - Dakota SXT - Daily Ride / ≈ 172.5K .'76 - 450SLC - 107.024.12 / < .89.20 K ..'77 - 280E - 123.033.12 / > 128.20 K ...'67 - El Camino - 283ci / > 207.00 K ....'75 - Yamaha - 650XS / < 21.00 K .....'87 - G20 Sportvan / > 206.00 K ......'85 - 4WINNS 160 I.O. / 140hp .......'74 - Honda CT70 / Real 125 . “I didn’t really say everything I said.” . . . . . . . . . . . . . . . . . . ~ Yogi Berra ~ |
#9
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Quote:
It looked like Christmas there for a bit...didn't it? Now, it's getting old, cold and where just hitting the 1st of January...
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. . M. G. Burg'10 - Dakota SXT - Daily Ride / ≈ 172.5K .'76 - 450SLC - 107.024.12 / < .89.20 K ..'77 - 280E - 123.033.12 / > 128.20 K ...'67 - El Camino - 283ci / > 207.00 K ....'75 - Yamaha - 650XS / < 21.00 K .....'87 - G20 Sportvan / > 206.00 K ......'85 - 4WINNS 160 I.O. / 140hp .......'74 - Honda CT70 / Real 125 . “I didn’t really say everything I said.” . . . . . . . . . . . . . . . . . . ~ Yogi Berra ~ |
#10
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Bush's "everybody thinks it's the right thing to do" was the Iraq war. Obama's is spending billions like it was Monopoly money.
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