Saturday, March 06, 2010

Enjoy That Dollar While It Is Still a Dollar

Congressional estimates show grim deficit picture. Let's deconstruct this, shall we?

A new congressional report released Friday says the United States' long-term fiscal woes are even worse than predicted by President Barack Obama's grim budget submission last month.

No surprise here.

The nonpartisan Congressional Budget Office predicts that Obama's budget plans would generate deficits over the upcoming decade that would total $9.8 trillion. That's $1.2 trillion more than predicted by the administration.

This administrations "predictions" are code for "lies". They know that their deficit projections are bullshit, and know that their Obamacare proposal would add another trillion of deficits.

The agency says its future-year predictions of tax revenues are more pessimistic than the administration's. That's because CBO projects slightly slower economic growth than the White House.

The Obama administration is choking off economic growth through increased taxes, new taxes, new regulations, anti-business attitudes, and wholesale government takeover of whole industries. There is no way growth will be robust under these policies.

Read the rest if you have the stomach.

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