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Obama “predicts” grim economy

[ Gee, as if we haven’t seen this coming for years now.  The planned de-construction of the US economy is well underway.  Obama is the delegated front man to bring the house down… ]

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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.

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2 comments to Obama “predicts” grim economy

  • D

    This is quite a horse and pony act. First he throws a monkey wrench into the mechanism of our economy then he predicts it is going to have problems running. What a leader!

  • Norris Hall

    WASHINGTON (Reuters) Aug. 23, 2009
    “- The $787 billion stimulus package passed in February will fuel a recovery in the moribund U.S. economy this year, Congress’ non-partisan budget watchdog said on Tuesday.”

    “Economic activity will begin to rebound in the second half of 2009, largely the result of fiscal stimulus,” the Congressional Budget Office said in its assessment of the federal budget and U.S. economy.

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