White House: Budget Deficit Will be $2 Trillion Higher than Projected

[lib2DaBone]

Here's a hint to the PTB (Powers That Be)... Quit giving money to Blackwater and Goldman Sachs.. bring our troops home and quit meddeling in other countries affairs. That would save.. how much.... $5 Trillion a year?

"This was an UNUSUAL recession for the labor market" LMAO... Ya, cause you sent all the jobs to China... you smucks...



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http://blogs.abcnews.com/politicalpunch/2009/08/white-house-budget-deficit-will-be-2-trillion-higher-than-projected.html

ABC News' Karen Travers reports:

As was reported last week, the Obama administration announced today that it has revised its 10-year cumulative budget deficit projection to around $9.051 trillion, up from its February projection of $7.1 trillion.

The new forecast is based on new data that reflect "how severe the economic downturn was" at the end of last year and first half of this year.


Romer also said the administration predicts the unemployment numbers will peak in the fourth quarter of 2009 and first quarter of 2010 and will hit 10 percent “for some months or some quarters” in that time period. She said the annual average of the unemployment rate for 2009 will be 9.3 percent and 9.8 percent in 2010.

Romer added that these unemployment figures reflect two things: the deterioration of the GDP forecast (“the recession was simply worse” than they thought) and the fact that this is an “unusual recession for labor market.”

[JonQ]

1. A trillion here, 2 trillion there

it doesn't sound like much but pretty soon this will start adding up to real money.

:sarcasm:

[Romulox]

2. Thank GAWD it passed! nt

[Swede]

3. Here is a link that graphs deficit to gdp

http://delong.typepad.com/sdj/2009/06/the-debt-and-the-deficit-in-historical-perspective.html