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

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 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 said in June that deficits between 2010 and 2019 would total $9.1 trillion.

This would be the same CBO that’s been warning us for months that ObamaCare will be a massive boondoggle. (And even CBO might be lowballing it.) I wonder: How many economic projections has Team Barry utterly cocked up so far? Is anyone keeping a list? Off the top of my head, there’s this one, the infamous guesstimate that the stimulus would keep unemployment under eight percent, and the Cash for Clunkers funding that was supposed to last three months and ran out in a week. In these capable hands does the financial viability of universal health care rest. Exit question: Is this the stake in the heart of ObamaCare? One of the main reasons The One’s polling is deteriorating is public skittishness about deficits. Suddenly, in one fell swoop, the problem’s fully 30% worse than the White House thought, which all but destroys the credibility of their health-care projections going forward. (Not that they had much credibility to begin with.) It’s time to walk away, Blue Dogs.

Update: Sounds like he dumped this almost literally as he walking out the door for his 10-day summer vacation. Unbelievable.


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n fact virtually every country in the world is worst off than us, relative to debt vs GDP.

patrick neid on August 21, 2009 at 8:03 PM

Greece’s entitlement spending (their versions of health care, ss, social wellfare) are something like 25% of annual GDP.

Talk about a train wreck.

BadgerHawk on August 21, 2009 at 8:08 PM

I was expecting my link at the end of AP’s start to this article:

A late Friday afternoon candygram from the White House…

WashJeff on August 21, 2009 at 8:09 PM

I wish there was some way for Allah and Ed to isolate the IP addresses of a few of our most notorious trolls and just redirect them to this specific thread every time they try to get to Hot Air.

BadgerHawk on August 21, 2009 at 8:10 PM

A late Friday afternoon candygram from the White House…

WashJeff on August 21, 2009 at 8:09 PM

Even better. Yes ObamaMan can, yes the Candy Man can…

BadgerHawk on August 21, 2009 at 8:12 PM

Two trillion here, two trillion there…

pretty soon, you’re talking real money.

JohnGalt23 on August 21, 2009 at 8:17 PM

Even better. Yes ObamaMan can, yes the Candy Man can…

BadgerHawk on August 21, 2009 at 8:12 PM

Joke 1) That was just one heck of a racist and hate fill song you sent me to.

Joke 2) I saw this on MSNBC. They cropped the shots of the guy singing and all I could see was the microphone and his t-shirt.

WashJeff on August 21, 2009 at 8:19 PM

Empiricist on August 21, 2009 at 7:09 PM

Thanks for the info. It helps a bit.

Weight of Glory on August 21, 2009 at 8:25 PM

I can’t believe liberals complained about the cost of the wars.

The Notorious G.O.P on August 21, 2009 at 8:30 PM

I’m wondering what day-by-day pictures of Obama’s vacation will entertain us for the next 10 days…….?

….. I mean, goodness gracious, you just don’t run Obama 24/7 for the past year then just go ‘cold turkey’ on the American public!

Riots in the streets! Mass suicides! A total collapse of all civilized societies…….!

……. Place a bet, pectoral shots, Michelle’s Brazilian wax job, the kids on a boat, Obama flying in Lobsters???

I’m going with a shot of Obama watching NASCAR…….

Seven Percent Solution on August 21, 2009 at 8:30 PM

Michelle’s Brazilian wax job

Seven Percent Solution on August 21, 2009 at 8:30 PM

So soon after dinner. That wasn’t nice.

HoustonRight on August 21, 2009 at 8:37 PM

In this age of miracles, people seem ready to believe that anything is possible. Recklessly crossing the street at the end of the Late Bubble Epoque, the world economy got hit by a cross-town bus. Now, the feds propose to reverse and run over the poor fellow again. It will be as if they had reversed the film; the economy will be as good as new, they say.

But we are suspicious. And we begin today’s rumination by examining the bus driver’s motives.

In its naked form, government is not evil; it is merely a self-interested parasite, like a bank lobbyist. Its main value comes from its ability to elbow out other parasites. Of course, the typical citizen is no saint either. Instead, he is merely a parasite in the larval stage. If he is lucky enough or cunning enough, he could grow into a parasite himself. The citizen, generally, doesn’t mind being lied to and robbed – just so long it is by someone he elected. Or at least by someone whom tradition or local connivance put in place. He does not usually resent his homegrown government, even though it routinely costs him a substantial part of his output. On the contrary, he grows so fond of it he even dons his helmet from time to time to protect it. Naturally, the feds return the favor.

The basic business model of government is to keep order, protect campaign contributors and lure supporters with the promise of other peoples’ money. The game plan of the typical citizen is even simpler: to be on the receiving end, not the paying end. Over time, more and more of them get into position. And the whole society becomes more costly, and more corrupt.

In the United States, entire industries now operate as wards of the state. They may have too little capital. Or, their operations may be too costly. Or, their products may be simply out-of-date and unattractive. Still, government keeps them going – even at the cost of at the expense of competitors. And the money doesn’t only go to business. Cities stay solvent only by the grace of federal government grants. Whole sections of the population depend on government – including 34 million who draw their rations directly from the federal food stamp program. The spectacle is breathtaking and alarming at the same time – like a Pakistani bus on a mountain road, freighted with passengers clinging to the roof. The old rust bucket could tip over at any time, but what politician would tell a voter to get off?

That preface on the state out of the way, we turn to the state of the economy. The key to understanding the great credit bubble of 1945-2007 is to capture the codependent relationship between China and the United States of America. It seemed to serve both parties well. Each enabled each other’s excess. China added mightily to the world’s supply – far more than was actually needed. America, meanwhile, did heroic work on the demand side. While the growth in the United States was led by consumer spending, the growth in China was led by capital investment; factories expanded, towns were built, and output was revved up. But there was a flaw. Americans ran out of money. After the ’70s, they could only increase their buying by going into debt. This they did with insouciance bordering on insanity. Total debt rose 370% of GDP and then blew up in 2007, with major lenders forced into bankruptcy and mergers, while GDP sank at its fastest pace since the end of WWII.

Now, the old formula no longer works – neither for Americans nor for the Chinese. Despite the urging of their government, Americans cannot be expected to take on more debt in order to consume more stuff from China. As savings rates grow toward 10%, demand from the United States will collapse by an estimated $1 trillion per year. With the China trade now accounting for 83% of America’s non-oil trade deficit, you’d think the Chinese would panic. They already have as much as two times the output capacity needed to meet real demand. They should trim their manufacturing sector, not expand it.

But the role of government is neither prosperity nor plausibility…but protection of the pests and parasites. They will keep paying them off and carrying them along…until the bus runs off the road.

Bill Bonner
The Daily Reckoning

KentAllard on August 21, 2009 at 8:39 PM

I’ll soon take all my troubles over to Obama Rue
You know The One with the never ending Hope and Change shtick
He’s got a pad down on Pennsylvania avenue
He’ll be passin’ out little bottles of Obama Potion Number Nine

I’ll tell him that I’m having trouble with my mortgage payments
It’s gotten even worse in these last few weeks
He’ll kiss me on the cheek and he’ll made a magic sign
He’ll say “What you need is Obama Potion Number Nine”

He’ll turn around and gave me a wink
He’ll say “I’m gonna have my Michelle make it up right here in the White House sink”
It’ll smell like Chicago, it’ll look like socialist ink
I’ll hold my nose, I’ll close my eyes, I’ll take a drink

I won’t know if it is day or night
I’ll start grabbin’ everyone else’s money that is in sight
But when there’s nothin’ left to grab
It’ll break my little bottle of Obama Potion Number Nine

MB4 on August 21, 2009 at 8:46 PM

Oh,I used to worry about the Fairness Doctrine. The way things are going, we will be lucky to get to listen to the radio. The economy is gone.

mobydutch on August 21, 2009 at 8:48 PM

It’s stuff like this that triggers more…..

GUN THREADS!

Sapwolf on August 21, 2009 at 8:50 PM

Cloward-Piven,
And yes, guns guns guns.

daesleeper on August 21, 2009 at 8:53 PM

empiricist writes: “…and here’s the cool part. * Whatever they don’t/won’t/can’t buy, the FED buys up to keep the rates down. $300B so far. (I know, used to seem like so much “money”)

So now for all intents and purposes we have the U.S. government buying U.S. debt(!!!!) – although the Fed actually doesn’t have any money (It just controls the money supply). Ergo: HYPER INFLATION IS ON ITS WAY

Remember when our esteemed Secy/Treasury visited Beijing and got laughed out of the room when he told the Chinese “Not to worry, our borrowing $2.4 trillion from them was a ‘safe investment”? Well, the Chinese also warned him at that time “Don’t even think about printing $$$ to pay off your debt…..because if you do, we’ll demand repayment in Euros.

This (latest) $9 trillion estimate is going to prove absurdly low in very short order.

alwyr on August 21, 2009 at 8:54 PM

Update: Sounds like he dumped this almost literally as he walking out the door for his 10-day summer vacation. Unbelievable.

No, calculated. Sneaking away for 10 days after such an announcement will allow already PO’d Americans to rise to a rolling boil.

Better print some more milk cartons. There won’t be many risking town halls after this.

DrStock on August 21, 2009 at 8:55 PM

This is change I believe in.

Though it is chump change compared to his ultimate plan.

EconomicNeocon on August 21, 2009 at 8:55 PM

Joke 2) I saw this on MSNBC. They cropped the shots of the guy singing and all I could see was the microphone and his t-shirt.

WashJeff on August 21, 2009 at 8:19 PM

Lol. That’s the levity this thread needs.

BadgerHawk on August 21, 2009 at 8:57 PM

“Michelle’s Brazilian wax job

Seven Percent Solution on August 21, 2009 at 8:30 PM
So soon after dinner. That wasn’t nice.

HoustonRight on August 21, 2009 at 8:37 PM”

Brazil is a small country. China wax job.

Star20 on August 21, 2009 at 9:00 PM

A bunch of change,,,,,,,NO HOPE

PaCadle on August 21, 2009 at 9:09 PM

Let’s take a Praxis I test, required for teacher certification.

George spends 500 billion per year over deficit. Barry spends 2,000 billion per year over defict. In how many years will Barry spend less than George?

A)1
B)4
C)8
D)Hope and Change

Rambotito on August 21, 2009 at 9:13 PM

Answering for the trolls, I would say

E) What about Iraq?

Star20 on August 21, 2009 at 9:17 PM

Rambotito on August 21, 2009 at 9:13 PM

E) All of the above

Liam on August 21, 2009 at 9:19 PM

Wow, by my public school math this means we be savin’ money right, yo?!

hope ‘n change

ted c on August 21, 2009 at 9:21 PM

when does bush get blamed for this?

ted c on August 21, 2009 at 9:21 PM

Does anyone know if the MSM has reported this story yet, and what is their spin?

Liam on August 21, 2009 at 9:25 PM

Does anyone know if the MSM has reported this story yet, and what is their spin?

Liam on August 21, 2009 at 9:25 PM

What story???

PaCadle on August 21, 2009 at 9:34 PM

FNC made a mention of it on Cavuto, but I wouldn’t be surprised if the networks overlook it or if they “miss” the most important part about it this:

Obama KNEW how much of a landmine this report was and he sat on it and withheld the truth from the American Public for A MONTH. Just as he was agitating the Congress to pass HR3200 before the Recess…. UNBELIEVABLE.

Obama knew that we’d be TWO TRILLION DOLLARS further into debt by the time HR3200 had just begun hitting its stride and—still—he kept pushing congress to pass this legislation without any debate!!

FNC (and everyone else really) needs to ask that question: how in the hell could Obama get on national television and disregard the CBO’s conclusions about his 1-trillion dollar healthcare misadventure WHILE HE KNEW that we would be two trillion dollars deeper in the hole!

He’s known this for a MONTH and he kept pushing the “saving money” button after it had been continually debunked by the CBO.

Khorum on August 21, 2009 at 9:41 PM

Nothing surprises me about this guy. He is just patently dishonest and crooked.

TXMomof3 on August 21, 2009 at 9:45 PM

I love the smell of a troll free thread.

Knucklehead on August 21, 2009 at 6:36 PM

Most of them are still down at Office Max trying to find a calculator that displays enough digits. Somehow counting to 9 trillion on your fingers and toes is a bit slow.

Yoop on August 21, 2009 at 9:48 PM

I’m wondering what day-by-day pictures of Obama’s vacation will entertain us for the next 10 days…….?

Taking nominations for the top 10 ways Barry will indicate his disdain for the taxpayers during vacation…10. Renting a house for $50,000 per freakin’WEEK with almost 10% unemployment. 9. Taking Air Force One over for several jaunts to see Uncle Teddy on the Cape at ?how much? $30,000/startup. 8. FLOTUS and the girls have surely run out of sleeveless tops, short-shorts and peace-symbol t-shirts. New designer duds needed. Better yet, fly the clothes and designer in. 7. Hire new vacation photo stylists and put them on Mo’s payroll too. 6. Do we have a vacation czar yet? 5. Can’t wait to see photos of the loyal funder-pardon, it’s for the invited citizens(like the townhalls)-clambake on the rented lawn… 4. Where do you fly for a date-night from Martha’s Vineyard? Paris? 3. We will need 5 C-17s for all the vehicles, personnel and equipment. 2. Didn’t they just get back from a family vacation to the Grand Canyon and national parks? 1. Spending is the MO of this administration-except on national defense. I’m kind of hoping for the hurricane to swerve to the west and hit the Vineyard.

indypat on August 21, 2009 at 9:51 PM

khorum,
a solid point

rob verdi on August 21, 2009 at 9:51 PM

I’m thinking about something regarding new duties and an another agency of the US government that I don’t think I can mention.

Jeff from WI on August 21, 2009 at 9:52 PM

alwyr on August 21, 2009 at 8:54 PM

The thing about the “Liquidity Bubble” is they can pop it whenever Rahm needs another crisis/opportunity…

Empiricist on August 21, 2009 at 9:53 PM

“Michelle’s Brazilian wax job

Seven Percent Solution on August 21, 2009 at 8:30 PM

Like trying to wax a wire brush.

Alden Pyle on August 21, 2009 at 10:01 PM

To me this is reason enough to impeach everyone in congress who votes for such criminal spending! This is taxation without representation! These Communist fools do not represent the American people’s interest by bankrupting the country. I know fifth graders who would be more responsible. Our forefathers would be picking a good hanging tree for such criminals!We must take the country back!

Marco on August 21, 2009 at 10:07 PM

Leave our girls alone!

Until we bring them out for photo ops again.

PattyJ on August 21, 2009 at 10:30 PM

Star20 on August 21, 2009 at 9:17 PM

F) George W. Bush started the bailouts

G) Palin was for the bridge for nowhere before she was against it

H) John McCain was involved in the Keating 5

I) Limbaugh started this by saying he wanted Obama to fail. I mean if you keep putting out negative vibes what do you think is going to happen. Align your chakras, put on your Burken stocks and sacrifice your carbon credits to the Earth alter and maybe he’ll do better.

J) The Republicans don’t want to work with him to pass reform to save money

K) The Clintons are racist

L) Excuse

M) Misdirect

N) Lie

O) Insert irrelevant point here

Z) Thanks to the bad economy I can no longer afford food and had to rely on Hope and Change to feed my family. (I wish we had some change left over to by gum.) Now I’m too weak to continue to invent new excuses for Obama’s blatant incompetence. I never thought I would be saying this, but… thank god for Sarah Palin.

xax on August 21, 2009 at 11:11 PM

After hearing news like this, I can only watch this:

http://www.youtube.com/watch?v=Wq_-ADVG4LQ

Jeff from WI on August 21, 2009 at 11:17 PM

I don’t know what y’all are worried about. He did tell his cabinet to cut $100 million from the budget.

Daggett on August 21, 2009 at 11:31 PM

Guess they will need to update this chart

agmartin on August 21, 2009 at 11:37 PM

He will pay the whole deficit down with ten of those new One Trillion Dollars notes that have a picture of a US President who looks like Dumbo, so do not worry.

bayview on August 21, 2009 at 11:42 PM

This was discussed on the Fox news round table today. I hope they link Krauthamers comments on this subject

kangjie on August 22, 2009 at 12:11 AM

The Obamas on vacation and the polling begins:

Is Malia’s currency themed swimwear a political statement by the President?

Yes, he’s all about the money
No, the President just needed a new offshore tax haven
Undecided,these polls are too hard

Frist bare arms, then bare thigh, now a full moon rising. Should the First Lady be allowed to wear a thong?

Yes, baby got back — flaunt it girlfriend
No, it’s not a moon, it’s a black hole
Undecided, let me check out the photo again

wordsmithy2009 on August 22, 2009 at 12:18 AM

If Obama keeps a low profile during his vacation, I expect his number to go up, but can he resist ?

J_Crater on August 22, 2009 at 12:25 AM

He will keep a high profile because it’s his nature. After all, he is the One….

TheRook on August 22, 2009 at 12:28 AM

10-day summer vacation.

7 months on the job and 10 days vaction? How do I get a job like that?

Oh yeah…. Lie through my teeth, promise the moon, and get 52% of the voting public to buy it……

Hog Wild on August 22, 2009 at 12:30 AM

It won’t work for you, Hog. You are not the Messiah…

TheRook on August 22, 2009 at 12:32 AM

Are we closing this place down? Hot air seems dead to me…

TheRook on August 22, 2009 at 12:36 AM

Are we closing this place down? Hot air seems dead to me…

TheRook on August 22, 2009 at 12:36 AM

Do you see the time and the day of the week?

steveegg on August 22, 2009 at 12:49 AM

All you guys talking about impeachment need to take a look at the makeup of the Congress. It ain’t going to happen, folks….not until January 2011 at the earliest, and not even then, IMO. Elections have consequences: We’re stuck with this guy.

Also, the build up in the money supply has been huge. I’m no economist, but that spike is totally unprecedented, and we (and the rest of the world) are headed to places nobody has been before.

azlibertarian on August 22, 2009 at 1:02 AM

It won’t work for you, Hog. You are not the Messiah…

TheRook on August 22, 2009 at 12:32 AM

Dangit! My father was born in Kentucky and didn’t abandon my mother. Of all the bad luck…

Hog Wild on August 22, 2009 at 1:27 AM

He’s like the bad kid in school who turns in his crappy homework just before spring break. What a loser. heh.

Hexonx on August 22, 2009 at 2:17 AM

Update: Sounds like he dumped this almost literally as he walking out the door for his 10-day summer vacation. Unbelievable.

Sheesh!

Fits the Obama M.O.

This is the trillion dollar equivalent of the 25 DVD collection of greatest hits

The British leader came out a lot better than mainstream America who just got the same diss times a trillion

IMHO Obama is not shaking in his boots at Camp David or worrying about how to solve the problem. IMHO he is enjoying the massive rush of his greatest all time Diss

entagor on August 22, 2009 at 2:21 AM

If Obama keeps a low profile during his vacation, I expect his number to go up, but can he resist ?

J_Crater on August 22, 2009 at 12:25 AM

If the GOP lets him get ANY slack even as Obama scrams out of town RIGHT AFTER dropping this bombshell report they deserve to join the Whigs and the Federalists.

The country is in an uproar over his socialist incrementalism and Obama slips this 2-trillion dollar deficit note under the door as he sneaks off to vacation and the opposition lets him get away with it?

Actually yeah, judging from their results so far I bet GOP would is more than likely to let Obama have a restful vacation. Thankfully, I have no doubt Rush, FNC and Sarah Palin will do their utmost to make Obama pay for it.

Khorum on August 22, 2009 at 3:21 AM

I tend to think that Americans are still going to be ‘all wee-weed up’ about this even after a 10 day reprieve from Zero belittling and ignoring them.

Mr Purple on August 22, 2009 at 4:02 AM

You guys are too focused on reality. Here’s some Hope and Change for you fellas

http://www.youtube.com/watch?v=ghSJsEVf0pU

El_Terrible on August 21, 2009 at 7:01 PM

That was refreshing! Where can I take a quick shower?

fred5678 on August 22, 2009 at 4:20 AM

March, 2009 – CBO estimates over $9 TRILLION deficit in next 10 years.

White House spokesman Robert Gibbs said Friday that the new projections won’t stop Obama from achieving his goals or keeping his promise to cut the country’s red ink in half within four years.

The administration is a bit more optimistic about the nation’s economic growth over the long term than congressional analysts, Gibbs said.

August, 2009 – Obama finally admits CBO was correct 5 months ago, therefore admitting to lying to the American public all that time.

And White House blames it on Bush!

Fri Aug 21, 2009 6:50pm EDT 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 administration official,

And then goes on vacation FIFTEEN MINUTES LATER!!

Fri Aug 21, 7:05 pm ET President Barack Obama left the White House on Friday for a 10-day vacation, taking with him the beloved family dog and leaving behind an acrimonious debate about a proposed overhaul of the nation’s health care system.

And leaves an extra $2 TRILLION poo-poo on the White House lawn for the American people to clean up.

fred5678 on August 22, 2009 at 5:25 AM

wonder: How many economic projections has Team Barry utterly wee-wee’d up so far?

FIFY Allah.

BKennedy on August 22, 2009 at 7:19 AM

You guys are too focused on reality. Here’s some Hope and Change for you fellas

http://www.youtube.com/watch?v=ghSJsEVf0pU

El_Terrible on August 21, 2009 at 7:01 PM

That was refreshing! Where can I take a quick shower?

fred5678 on August 22, 2009 at 4:20 AM

LOL…Oh my God, half of those people in there looked like felons from prison, the rest just looked like idiots.

Jeff from WI on August 22, 2009 at 7:29 AM

BO is a disaster. He’ll be impeached.

nina on August 22, 2009 at 7:48 AM

“Obama Willing To Be One-Term President To Pass Health Care”

My dad prayed for LBJ in church as part of the liturgy and I asked why?
His answer was consider the alternative!

Biden in 20091/2

For the young the answer was Hubert(Cry me a river) Humphry, the prototype for al franken.

Col.John Wm. Reed on August 22, 2009 at 7:58 AM

but i do feel better now that bambi is on vacation.

kelley in virginia on August 22, 2009 at 8:01 AM

I can hear it now, in his best Maxwell Smart imitation, White House Budget Director Peter Orzag says to the Chair of the Council of Economic Advisers, Christina Romer – “missed it by that much”.

Xiphos on August 22, 2009 at 8:04 AM

i never got the sense that HHH was a total *sshole like al franken. and he was veteran which i can’t discount, even if he was extreme lib.

kelley in virginia on August 22, 2009 at 8:05 AM

Actually from the $1.3 trillion that he inherited, Obama has grown the deficit to $9.1 trillion.

Obama MiracleGrow

maverick muse on August 22, 2009 at 8:28 AM

So now for all intents and purposes we have the U.S. government buying U.S. debt(!!!!)

alwyr on August 21, 2009 at 8:54 PM

Oh, we’ve been doing that for a very long time. It’s called Social Security. Wait until that bill comes due and people discover that you cannot simply write off money that you owe to yourself.

Tonus on August 22, 2009 at 8:31 AM

Col.John Wm. Reed on August 22, 2009 at 7:58 AM

I doubt HHH had LBJ’s ppp, personal power of persuasion to make deals you couldn’t refuse.

I could be wrong. But LBJ enjoyed vicious coercion with a flare.

maverick muse on August 22, 2009 at 8:35 AM

Unfortunately, so far the Friday evening news dump seems to be having the intended effect. The MSM is pretty much ignoring it.

Ex-Dem on August 22, 2009 at 8:50 AM

Actually from the $1.3 trillion that he inherited, Obama has grown the deficit to $9.1 trillion.

Obama MiracleGrow

maverick muse on August 22, 2009 at 8:28 AM

Correct me if I’m wrong, but doesn’t the $1.3 trillion FY 2009 deficit include $700 billion of TARP funds? You have to exclude extraordinary income and expense items to get a real picture of financial health. The operating deficit was closer to $600 billion for Bush’s last FY. That’s terrible, but nothing close to what Obama is doing.

Ted Torgerson on August 22, 2009 at 9:17 AM

Hey folks don’t forget if anyone has time today is The recess rally to crank up the pressure on these weasels around the country. All 435 are getting protests today.

http://recessrally.com/

elduende on August 22, 2009 at 9:59 AM

Man; You people are flunking Obamanomics!

Cybergeezer on August 22, 2009 at 10:07 AM

So, how much more do we (and our children) have to take before we impeach this a-hole?

ErinF on August 22, 2009 at 10:38 AM

“So, how much more do we (and our children) have to take before we impeach this a-hole?

ErinF on August 22, 2009 at 10:38 AM”

If we play our cards right, the 2010 elections can pretty well castrate him. The problem is how much damage can he do between now and then.

Star20 on August 22, 2009 at 11:17 AM

From 7 to 9 trillion? Only off by 28+%.
And it will surely be revised upward.

Obamageddon is headed our way!

albill on August 22, 2009 at 11:33 AM

I wonder: How many economic projections has Team Barry utterly cocked up so far?

quite descriptive yet extremely accurate AP

stormin1961 on August 22, 2009 at 11:35 AM

What’s a couple trillion among friends? I use the term friends loosely here.

Vashta.Nerada on August 22, 2009 at 11:59 AM

Hey I got a great joke!

You know the only thing that needs end of life counseling.

Obamas heathcare bill!

camtheman7 on August 22, 2009 at 12:06 PM

I would like to take a vacation, but I can’t find a job.

bridgetown on August 22, 2009 at 12:17 PM

May I also point out that O-hole has hurt us badly in the energy area, which is a spike for real inflation.

By refusing to drill, by allowing an unlimited number of formulations of gasoline (remember that?), by preventing exploration, by encouraging foreign competition TO drill, by raising CAFE standards and simultaneously “acquiring” and wrecking the American auto industry, by steering innovation into energy dead ends like “Solar” or “Wind” I am actually looking forward to the black market in gasoline.

(Pssssss! Hey buddy! Want to buy a couple gallons of the good stuff?)

GunRunner on August 22, 2009 at 12:35 PM

Rasmussen reports show the champ at -10 on the approval index. Looks like hopenchange isn’t too convincing any longer and the rhetoric boomerang thrown 6-8 mos ago is on its way back home.

Reality bites, eh champ?

keep digging.

ted c on August 22, 2009 at 12:41 PM

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.

And to all of those who voted for Hussein, “How much longer do you need to be convinced that you made a mistake by electing him into office!” Do you have Buyer;s Remorse yet? You Should!

And to think, China’s starting to doubt that American debt is a smart investment.

And you think Bush spending was out of control? Did you really believe that Hussein needed to spend us out of Bush’s mess? Ask yourself why are people still being thrown out of their homes? Why is unemployment still rising? Why is your Pension Plan still shrinking?

the stimulus would keep unemployment under eight percent

Hey Hussein, “Where are the jobs?”

Cash for Clunkers funding that was supposed to last three months and ran out in a week

I could not figure out why so many thought this was a good deal! These are monies re-imbursed to the dealers by the government: Tax Dollars the government received from us!

I have seen Hussein continuously spend our money and we yet received anything from his spending that did not or will not cost us more in the future!

BigMike252 on August 22, 2009 at 12:45 PM

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