Bigger Deficits, Bigger Debt

[redcliffsw]

No surprises in this latest White House projection.  Who knows, they could easily be under estimating it again.
Do you suppose this information will slow 'em down or will they continue spending the Fed money and issuing more grants so we can enjoy life more fully?


WASHINGTON — The federal government faces exploding deficits and mounting debt over the next decade, White House officials predicted Tuesday in a fiscal assessment far bleaker than what the Obama administration had estimated just a few months ago.

Figures released by the White House budget office foresee a cumulative $9 trillion deficit from 2010-2019, $2 trillion more than the administration estimated in May. Moreover, the figures show the public debt doubling by 2019 and reaching three-quarters the size of the entire national economy.

Obama economic adviser Christina Romer predicted unemployment could reach 10 percent this year and begin a slow decline next year. Still, she said, the average unemployment will be 9.3 in 2009 and 9.8 percent in 2010.

rest of story:

http://www.bostonherald.com/news/us_politics/view/20090825white_house_projects_bigger_deficits_bigger_debt/srvc=news&position=recent_bullet