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CBO: Obama playing fast and loose with numbers in budget

By Doug Thompson
March 20, 2011

(AFP)

The Congressional Budget Office (CBO) says President Barack Obama is underestimating deficits and overestimating revenue projections in the budget released by the White House on Friday and that the budget, if passed by Congress, would increase the deficit by more than $2 trillion over the next decade.

Obama claimed his budget would produce deficits of $7.2 trillion while the CBO assessment estimates the shortfall would be more like $9.5 trillion.

The report suggests the administration is using political “fuzzy math” to mask the true cost of his budget.

 

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14 Responses to CBO: Obama playing fast and loose with numbers in budget

  1. griff

    March 20, 2011 at 10:08 am

    You mean The One is lying? Go figure…

    Tack onto that our near trillion dollars per year in off-budget military spending and “emergency” appropriations and it’s more like 20 trillion over ten years.

    We won’t mention the other unfunded liabilities such as Social Security and Medicare equaling tens of trillions of dollars more.

    And the Hill People furiously search for their fiddles…

  2. bogofree

    March 20, 2011 at 10:42 am

    Don’t get me started on the Social Security lack of trust fund. Include all those IOU’s into the debt and you’ll have some real staggering numbers.

  3. Carl Nemo

    March 20, 2011 at 12:23 pm

    I’ve dropped something…my jaw : O ‘d NOT!

    Carl Nemo **==

  4. Sandune

    March 20, 2011 at 12:35 pm

    Every 4 years we go through billion dollar elections and tons of stress and end up with a President who plays fast and loose with number in budgets and hidden agendas.

    Every 2 years we organize our political parties to stop the actions from the Congress that are not what we expected.

    Every 6 years we take on our Senators hoping to get some control over the problems that our government orders on our behalf.

    What happens to our individual leaders when the power of the world is laid at their feet?

    Every American should should remember the airplane with our students that was shot down by the Libyan government. Was the fact that this was done in Scotland that kept us from demanding action?

    Are we heading for the destruction of Islam; taking out one nation after another? Was this our purpose to go into Iraq? Many fear that President Obama is a Muslim and I’m terrified he is an Evangelical Christian working for the great Crusade before the end of time.

    It is easy to see how entire cultures self destruct on this planet. Somehow through the history of our species, the trick of brainwashing a human brain became strong enough for self destruction. Many act shocked at the actions of the suicide terrorists and yet America appears to be waiting for our chance to clean out all humans except Christians.

    This problem is not one that any change of budget could fix. Going from GOP to Dems every 4 years does nothing for the nation. Our problems are much deeper than who gets the money.

    When any nation or political party is driven by the occult, wars are formed to destroy whatever is considered the opposition, Americans now believe that America is a Christian nation and our troubles will be over when we can stand as one unity.

    America will never recognize equality and any hope of this end game is lost. Well, in my world it will not be lost. For over 200 years, America took pride in a unified number of states where religion was a time of worship not planning the next attack on innocent people.

    Our species got lost in the evolution of development and some hidden gene of hatred and destruction got tangled in our plans. We could end up destroyed and have to start all over. Do we repeat our mistakes or can we simply start over with every new baby that is born. Humans have become so advanced that we lost the natural love of survival and family.

    If money is the problem, then by all means open up the federal banks and hand out in equal amounts all that is there. Will the corruption end? No!

    Maybe a stronger action is taken when someone takes an oath of fidelity. I took an oath of fidelity and did not involve any spirit. I took the responsibility and kept it. I did the same thing when I went to work for several corporations.

    I did not vote for President Obama because he ran on an agenda of government control. I also did not trust the GOP to allow him the chance to stay in office. The only thing that would have been worse was if McCain/Palin had won the election.

    How many religious wars have to destroy nations before the people get wise and start leaving others alone? Maybe the intelligent thing to do is divide up all 50 states under their own God. Let them fight their bloody wars with their own kids. After a couple of generations there won’t be enough strong men and women to lift finger in anger. The survival of the fittest will turn out to be a joke.

    I’m waiting for the day when an honest debate about American values can be made without bullets. When America was a young nation, it was the churches that took the responsibility for education, health care and even burying the dead. Now the churches are doing fund raising to destroy many others who run for office. Abusing the power of God is basically using the power of the church. There is no sanctuary in a church these days as fools like Gingrich is a mockery of their belief.

    This is not new and the nations of Europe are filled with a government selling out to the Pope or some other leader. It turns the human people involved into a brand of inquisitors that smack of Hitler.

    But that is our destiny and not a single advanced leader can even discuss it. Our species hit a snag in the development of our brains and bodies and it is too easy to blame others for our problems.

  5. Carl Nemo

    March 20, 2011 at 12:41 pm

    I’ve mentioned that I analyze photo’s supplied with articles. As I looked at the backside of our ‘dear leader’, I realized he looks like a ‘black pawn’ with ears, a most appropriate photo for sure in his case.

    Everything and I mean everything from Libya to the budget is being engineered by his shadowy controllers. He’s not only asleep at the wheel, he isn’t cleared to handle it.

    Carl Nemo **==

  6. randellpope

    March 21, 2011 at 7:03 am

    Yeap. In fact, did you know that Currently, many insurance companies do not allow adult children to remain on their parents’ plan once they reach 19. Companies cannot do that any more. Search onilne for “Wise Medical Insurance” and you can insure your kids if you are in the same boat.

  7. Guardhouse lawyer

    March 21, 2011 at 3:22 pm

    Did NO ONE look at the links Doug Thompson cited?

    Neither one of them give any support to the above article. One’s a 404 and the other is two sentences long:

    “President Barack Obama’s proposed budget would widen projected deficits over the coming decade due to lower taxes and higher interest payments, the nonpartisan Congressional Budget Office said on Friday.

    “Under Obama’s budget proposal, interest payments on the debt would increase over the coming decade from 1.7 percent of gross domestic product to 3.9 percent, CBO said.”

    That daggone Doug. He is REALLY good at reading between the lines.

    • griff

      March 21, 2011 at 3:51 pm

      LA times

      As we accrue more debt, our interests payments also grow, to the tune of 900 billion by 2021.

      We have spent 1.12 trillion already on the “War on Terror,” and that doesn’t include normal DoD spending for the rest of our military presence here and around the world.

      Our spending on military operations is nearly twenty percent of our federal budget.

      And while the Hill People posture and plume over a billion here and a billion there in domestic spending cuts, the sacred cow of empire remains untouchable and ever-growing.

    • Carl Nemo

      March 22, 2011 at 12:57 am

      Hi GHL,

      I fetched both “related article” links with no problem and they seem to confirm ‘dear leader’s’ obfuscation concerning our forward debt situation.

      Maybe exact figures might not come together; but regardless, unless they work on having a minimal to zero debt load level; we’re doomed, your writings, mine or anyone elses be damned…! : |

      Carl Nemo **==

  8. Guardhouse lawyer

    March 21, 2011 at 8:43 pm

    “The White House budget director, Jacob Lew, said the report relied on different economic assumptions and failed to credit the administration for its anticipated reductions in transportation and health costs. The Obama budget projected deficits would total $7.2 trillion over the decade.”

    Fast and loose with the numbers? Or merely different assumptions of what is going to happen in the future?

    As to the picture, yes, of course, why is what a person looks like so important? That’s just throwaway rhetoric.

    • Almandine

      March 21, 2011 at 9:53 pm

      So if it’s only a $72T deficit we’re all good to go, eh?