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Want to know what the deficit is at now?

9 trillion $$$$$$$$$$

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

The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama's opponents, who say his spending plans are too expensive in light of budget shortfalls.

The White House took heat for sticking with its $7.108 trillion forecast earlier this year after the Congressional Budget Office forecast that deficits between 2010 and 2019 would total $9.1 trillion. Was it me or did Barry just high tail it out of town after he drops this bomb?

Answer Question

Asked by tnmomofive at 10:33 AM on Aug. 22, 2009 in Politics & Current Events

Level 32 (56,190 Credits)
Answers (46)
  • It's not at 9 trillion, that is the EXPECTED deficit.

    Answer by matobe at 10:36 AM on Aug. 22, 2009

  • ok so its the expected...should we go further and just keep ratcheting it up?

    Answer by tnmomofive at 10:38 AM on Aug. 22, 2009

  • Was it 7 Trillion when Bush left office?

    Yes, a 2.9 Trillion dollar increase is a lot of money. I am not happy with the Obama Administration OR congress for the increase instead of a decrease... But then we shouldn't have had a deficit at ALL, there's really no excuse for it.

    Heck, I can't even comprehend what 1 Trillion dollars is... it's so much money that I can't wrap my mind around it.

    Answer by Cavalrybaby02 at 10:39 AM on Aug. 22, 2009

  • what was it when bush left office?

    how much of that war WAR spending?

    Answer by Anonymous at 10:40 AM on Aug. 22, 2009

  • Ok idiots does every post have to turn into but Bush Bush Bush? Are you ladies ever going to focus on the present? Is it OK with you just because the last guy spent like a nut at times for THIS new one to? If not then get the hell over the last guy finally is 2009 and Obama is president and he has tripled it.

    Answer by tnmomofive at 10:42 AM on Aug. 22, 2009

  • Bravo, President Obama. You're doing remarkably well on your mission to run this country into the ground.

    Answer by christaberk at 10:42 AM on Aug. 22, 2009

  • Thanks cavarly for at least acknowledging though

    Answer by tnmomofive at 10:44 AM on Aug. 22, 2009

  • "The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year.
    The officials spoke only on the condition of anonymity ahead of next week's announcement.
    Ten-year forecasts are volatile figures subject to change over time.
    But the higher number will likely create political difficulties for President Barack Obama in Congress and could create anxiety with foreign buyers of U.S. debt.
    Earlier this week, the White House revealed that it expects a budget deficit for the fiscal year ending Sept. 30 to be nearly $1.6 trillion."

    They are projecting 2 trillion by the end of the year.
    Just another reason NOT to believe the estimates they give for this healthcare reform. there will be no savings further raising the 10 yr deficit. This is not the end of the spending either. People have tunnel vision and forget that everything Obama wants will add to the deficit.


    Answer by itsmesteph11 at 10:45 AM on Aug. 22, 2009

  • If Obama gets what he wants i.e. cap and tax and healthcare then that figure will be way higher and NO way to pay it. We will be bankrupt.

    Answer by Carpy at 10:52 AM on Aug. 22, 2009

  • Hey, Martha's Vineyard is caaaaaaaaaaaaaaaaaalling... Who cares if the country is in a deep recession. I am sure him and Michelle are enjoing their "let them eat cake"-vacay


    Answer by grlygrlz2 at 10:53 AM on Aug. 22, 2009

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