Saturday, March 21, 2009

CBO predicts steeper deficit than White House does

Now that the CBO has had time to analyze some of President Obama's plans, it projects a $2 trillion addition to the deficit the Obama administration has been hailing. Given the large scope of the projects he wishes to pass and the current state of the economy, I am not surprised to see this significant increase because political goals often require money to get things done. The problem that I see with this revelation is that we are going to entering crunch time soon in dealing with a lot of the major issues facing this country, what happens if another problem that we had not projected arises and in order to fix it we need a significant monetary expenditure? At some point we really need to become more aware of the dangerous slope we are heading in if irresponsible spending is leading us a situation where our debt could produce major challenges in the future.

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