CBO: Obama budget underestimates deficits by $2.3 trillion

WASHINGTON - A new assessment of President Barack Obama's budget released Friday says the White House underestimates future budget deficits by more than $2 trillion over the upcoming decade.

The estimate from the nonpartisan Congressional Budget Office says that if Obama's February budget submission is enacted into law it would produce deficits totaling $9.5 trillion over 10 years — an average of almost $1 trillion a year.

Obama's budget saw deficits totaling $7.2 trillion over the same period.

The difference is chiefly because CBO has a less optimistic estimate of how much the government will collect in tax revenues, partly because the administration has rosier economic projections.

http://www.startribune.com/politics/nat ... 55314.html

Is it a lie or a miscalculation?

So now you guys love the CBO? Wasn't it just a few weeks ago that you hated them for their assessment of the Republicans changes to the healthcare bill
I could be wrong on that, but it seems you only like those agencies that agree with your side....duh...we all knew that anyway.

What you may not understand archer is that the CBO can only be accurate if the data they are given is correct and complete. Remember the old saying for computers "garbage in garbage out"? So if the Dems or Repubs hand them figures that are fudged or a couple trillion is conveniently left out, they will make their assesments based on that BAD data.

What we need is a non governmental group that can analize the raw data to make sure it really is acurrate and complete before it gets to the CBO (or just eliminate the CBO since they don't seem to have a way to make sure the data is correct anyway).

I'm sure this is a problem for both sides but there is currently more power with the Dems and the health care bill does have lots of costs that were not presented early on. We need to have it looked at very closely because once this monster is put in place, it will be very hard to kill it. JMO

News Flash: The health care bill has already been approved and provisions of it are already in force.

kresspin wrote: News Flash: The health care bill has already been approved and provisions of it are already in force.

Actually a Florida Judge has ruled it unconstitutional and the Obamaites have chosen to ignore the ruling instead of appealing.

kresspin wrote: News Flash: The health care bill has already been approved and provisions of it are already in force.

It ain't over until the fat lady sings. Just wait until people are mandated to buy insurance or get a fine, then we'll be seeing protests that make those in Wisconsin look insignificant....and then watch what were the unemployment rate goes when businesses have to lean out their more expensive workforce. The real ugly stuff has not been in force yet.....Obama better hope our economy is booming by then or he's going to have approval ratings as low as congress.