Wednesday, January 7, 2009

CBO to project $1.2T deficit in 2009

My, oh my, how fast the numbers grow. Rember, this is first a BUDGET number, and it is an ESTIMATE. It will have NOTHING to do with reality. Our government who mandates that your business use GAAP accounting, refuses to use it themselves. The real deficit for next year? Multiple trillions, count on it.

As K.D. says, "You can't fix stupid."

CBO to project $1.2T deficit in 2009
WASHINGTON (AP) -- Congressional estimators are projecting an unparalleled budget deficit of $1.2 trillion for the 2009 budget year.

A top congressional aide briefed on the estimate says the
Congressional Budget Office also sees a $703 billion deficit for

The dismal figures come a day after President-elect Barack Obama
warned of trillion-dollar deficits for years to come.

CBO's figures don't account for the huge economic stimulus bill
that Obama is expected to propose soon to try to jolt the economy.
Obama officials say the stimulus measure will blend tax cuts with
big new spending programs and could cost up to $775 billion over
the next few years.

Call someplace paradise
Kiss it goodbye

Eagles – The Last Resort