Obama To Hike 10-Year Deficit to $9 Trillion (Hope and Change?)

NOTE: Don't think when Obama voters swallowed his mantra "Hope and Change" this is what they were voting to see happen. What would the deficit be if OBAMACARE is passed or another stimulus. The first stimulus has had little impact except to increase the size of the deficit. Maybe next time voters might want to think twice before electing a person with ZERO executive or economic experience to the Office of President. Obama didn't even call meetings of the sub-committee he chaired in the US Senate as he was way to busy campaigning for President. No more community organizers as President EVER!

Obama To Hike 10-Year Deficit to $9 Trillion
Reuters
August 21, 2009
Jeff Mason

WASHINGTON (Reuters) - The Obama administration will raise its 10-year budget deficit projection to roughly $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.

"The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year," said the official, who is familiar with the plans.

"Our budget projections are now in line with the spring and summer projections that the Congressional Budget Office put out."

The CBO said in June that deficits between 2010 and 2019 would total $9.1 trillion. The official said the 2010-2019 cumulative deficit projection replaces the administration's previous estimate of $7.108 trillion.

(Excerpt) Read more at reuters.com ...