Saturday, March 6, 2010

CBO says debt over next ten years will exceed President Obama's forecast

If we continue on the road President Obama wants to take us, we're in for annual deficits of nearly $1,000,000,000,000.

From CNN:

If President Obama's 2011 budget were put into effect as proposed, the U.S. federal government would add an estimated $9.8 trillion to the country's accrued debt over the next decade, according to a preliminary analysis from the Congressional Budget Office.

Of that amount, an estimated $5.6 trillion will be in interest alone.