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Obama Administration to Adjust Projected Deficit; $7 Trillion 10-Year-Defict to Become... $9 Trillion
Ace of Spades HQ — Obama Administration to Adjust Projected Deficit; $7 Trillion 10-Year-Defict to Become... $9 Trillion From $7 trillion to $9 trillion is a change, you have to admit. He's moving his numbers out of unicorn-and-pixie fantasy-land closer to accordance with the CBO's. The Obama administration will raise its 10-year budget deficit projection to roughly $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday. "The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last ...

Good news: Obama hikes 10-year deficit projection from $7 trillion to $9 trillion
Hot Air » Top Picks — Good news: Obama hikes 10-year deficit projection from $7 trillion to $9 trillion posted at 6:23 pm on August 21, 2009 by Allahpundit Share on Facebook | printer-friendly A late Friday afternoon candygram from the White House to help you get the weekend started right. And to think, China’s starting to doubt that American debt is a smart investment. It’s a good thing our massive new health-care bureaucracy’s going to be deficit-neutral. Imagine how much higher this number would be if it wasn’t. The Obama administration will raise its 10-year budget ...

Meredith Jessup: Breaking: Obama Raises 10-Year Deficit Estimates by $2 Trillion
Townhall.com Blog's TownHall Blog — A late-afternoon story released from the White House on a Friday in Washington usually means one thing: bad news for the President. Today was no exception. A "senior administration official" reported to Reuters that President Obama is raising his 10-year budget deficit projection to $9 trillion, up from his original $7.108 trillion estimate: Full story @ Reuters .

Brother can you spare 2 trillion dollars?
Babalú Blog: an island on the net without a bearded dictator — I am sure the timing behind the release of this information--late on a Friday afternoon--is purely coincidental. Obama to raise 10-year deficit to $9 trillion WASHINGTON (Reuters) - The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday. The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to ...

Acknowledging deficit reality
Betsy's Page — For the first half of this year, the Obama administration had been sticking to their original optimistic deficit projections. Now, late on a Friday, they've released their new 10-year deficit projections. The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday. The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack ...

Obama Stars in New Movie: For a Billion Dollars More
The Sundries Shack — Okay, so the good news is that the Obama administration’s estimate of the 10-year deficit was wrong. The bad news is that they were wrong and low. Two billion dollars low . The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday. The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama’s opponents, who say his ...

Obama Stars in New Movie: For a Trillion Dollars More
The Sundries Shack — Okay, so the good news is that the Obama administration’s estimate of the 10-year deficit was wrong. The bad news is that they were wrong and low. Two trillion dollars low . The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday. The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama’s opponents, who say his ...

Democrats Meet Some Change With No Hope
Wizbang — ... event characterized by political adventurism, the madness of crowds and stark political ignorance and arrogance (the modern political equation might go something like this: Obama/Pelosi/Reid = Robespierre/Jacobins). President Obama and the Congress have been on a single minded mission during the last seven months of expanding Federal power and acting in their own self interest. A plethora of recent polling indicates that voters are pushing back hard against this agenda and its anticipated results. As Lori noted earlier , many Democrats are beginning to figure ...

The nine trillion
Belmont Club — ... links to a Reuters story saying that President Obama plans to borrow 28% more than previously planned: “$9 trillion over the next 10 years”. Reuters says that “record-breaking deficits have raised concerns about America’s ability to finance its debt and whether the United States can maintain its top-tier AAA credit rating.” For those who are interested, ...

Forget “Too Big To Fail”
Blue Crab Boulevard — ... This is too big to succeed: The Obama administration is about to admit that A) it was wrong about the size of the ten-year deficit,  B) It was completely wrong about the size of the ten-year deficit and C) That their criticism of the Congressional Budget Office’s completely correct assessment of the real ten-year deficit was selfish and stupid and that team Obama couldn’t find its collective rear end with both hands. Only kidding about C). They admit nothing. Other than the fact that they were epically wrong : The Obama administration will raise its 10-year budget deficit ...

Gee, what a surprise: Obama bankrupting U.S. faster than he estimated
Doug Ross @ Journal — Reuters reports that President Obama will raise the projected U.S. deficit to $9 trillion , consistent with the original CBO estimate and roughly equivalent to a dozen Iraq/Afghanistan wars. [image] The White House took heat for sticking with its $7.108 trillion forecast earlier this year after the Congressional Budget Office forecast that deficits between 2010 and 2019 would total $9.1 trillion. "The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year," said the ...

Friday afternoon bad news: Obama to raise 10-year deficit to $9 trillion
Fausta's Blog — Obama to raise 10-year deficit to $9 trillion The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday. The CBO was right after all, The White House took heat for sticking with its $7.108 trillion forecast earlier this year after the Congressional Budget Office forecast that deficits between 2010 and 2019 would total $9.1 trillion. ...

FRIDAY NIGHT NEWS DUMP
Dr. Sanity — They're really hoping you won't notice.... Hey! What's one or two trillion $$ among friends?

Viking Pundit — ... to explain the difference between depression and recovery. CNNMoney recently calculated that the stimulus plan has spent just $120 billion—less than 1% of GDP—mostly on temporary tax cuts ($53 billion) and additional Medicaid, food stamps and unemployment benefits. Less than $1 billion has been spent on highway and energy projects. Commitments for the future are much larger, but households and firms can't spend commitments. We're going to need some economic stimulus because soon we're going to need new tax revenues to pay for the stimulus . posted by Eric at ...

Obama Low-Balled Deficit Figure By $2 TRILLION!
Gateway Pundit — Nice work! Team Obama was $2 trillion off their budget deficit estimates. Obama and the Democrats may not know how to create jobs- but they sure know how to spend money. The Obama Administration will likely quadruple the budget deficit this year and they just raised their 10-year budget plan by $2 trillion. Reuters reported: The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told ...

Unreal Money: Obama Deficit 9 Times More Costly Than the War on Terror
AMERICAN DIGEST — ... The news today is.... Obama to raise 10-year deficit to $9 trillion ...

What Happened to the Stimulus???
Stop The ACLU — ... Posted on August 22, 2009 What can be said? The Obama administration will raise its 10-year budget deficit projection to roughly $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday. “The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year,” said the official, who is familiar with the plans. “Our budget projections are now in line with the spring and summer projections that the Congressional Budget Office put out.” The CBO ...

Hugh Hewitt: If The President Was That Wrong On The Deficit....
Hugh Hewitt's TownHall Blog — President Obama was off by 2 trillion dollars in his first 10-year deficit projection . Given this enormous error with its staggering implications, why would anyone believe any of his assurances about the costs of Obamacare? This report should be the end of Obamacare, though of course hyperpartisans of the left will continue to push for the budget-busting, rationing-as-the-answer plan to greatly expand the federal government's power over the health care decisions of every American but especially of seniors. Only 10 weeks until referenda on Obamanomics are ...

Obama raises 10-year deficit to $9 trillion
PoliGazette — ... Good news! President Obama will adjust his 10-year budget deficit projection. You see, his earlier projection of a $7 trillion deficit was too low. ...

Those Forked Tongue Democrats: Long Term Costs
The Moderate Voice — ... debt, you should be getting an old, familiar feeling. It was only six months ago to the day, on Feb. 22, when Barack Obama proclaimed that he was going to cut the deficit in half by the end of his first term. And let’s be sure to recall that this was after TARP was already in play and Porkulous was under construction like a fully operational Death Star. The economy had begun to collapse the previous fall, so nobody could say it was coming as a surprise. My, how things change in six months. (Hat tip: Hot Air) Obama to raise ...

Saturday links
Maggie's Farm — ... Having gotten the deficit to 9 trillion, the Prez takes a vacation. The plan is obviously to increase debt to the point that dramatic tax increases on everybody become required by the coming "federal debt crisis." Inflation won't solve it. ...

Pity the President
Neptunus Lex — ... In the 2008 national election, conservatives heard what a thin-resumed junior senator from Illinois was peddling and feared for the worst. Independents heard those same words and ...

Shocker: Obama Administration Raises 10 Year Deficits Projection By $2 Trillion
Say Anything — Meh.  What’s another couple of trillion, right? The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday. The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama’s opponents, who say his spending plans are too expensive ...

A 9 trillion dollar annoyance
Classical Values — A 9 trillion dollar annoyance I don't like the fact that Barack Obama has hiked the deficit to $9 trillion . And what the hell does it matter what the hell I like? Sometimes I don't know what I find more annoying: the news or my annoyance with the news. Because it is the latter that triggers an annoying sense of obligation to say something. The most annoying part is the way the constant annoyances trivialize the things that are annoying.

Obama: My Work Here Is Done
RedState: Conservative News and Community —

A cynic's perspective or right on target?
Hyscience — ... Obama hasn't worried himself over what any (of) this will cost all of us, and why should he? His eligibility for office will have run its course by the time the bill(s) will come due-it won't be HIS problem by then, will it? Besides, 9 trillion dollars is chump change to our great-grandchildren...they can just print more money and all will be right as rain. ...

Debt to infinity
Sense of Events — Now the White House says that its previous 10-year deficit projection of $7.1 trillion was too low. The new projected figure is TEN trillion dollars. ...

The Obama Tumble Continues
Flopping Aces — ... rate was 15 percent in July, down from 15.2 percent in June — the first time any state’s jobless rate had topped 15 percent since 1984. The states with the next highest jobless rates in July were: Rhode Island, at 12.7 percent; Nevada, 12.5 percent; California, 11.9 percent; and Oregon, also at 11.9 percent. Four reached state record highs: Rhode Island, Nevada, California and Georgia. And the spending goes out of control: The Obama administration will raise its ...

Obama’s Spending Plans Will Nearly Double the National Debt--White House Leaked the News Late on Friday
CNSNews.com Headlines — (CNSNews.com) - In news leaked late Friday to the Reuters news agency, the White House conceded that the national debt will increase by $9 trillion over the next ten years, nearly doubling a national debt that now stands at $11.67 trillion. Until now, the White House had been estimating that the national debt would increase by $7.108 trillion between 2010 and 2019. On Friday evening, Reuters reported that an unnamed senior administration official was saying that a report due from the Office of Management and Budget on Tuesday would indicate that the debt would actually ...

Is the US Government bankrupt?
American Thinker — ... . That's TRILLION with a T'. Over the next ten years the projected deficit will be $9 TRILLION +. That's TRILLION with a T'. Of course, this projected deficit comes from the Congressional Budget Office and has to be considered a conservative estimate. In 1966 the feds estimated that the cost of the ...