National Debt to be Higher than Whitehouse Predicted - No Kidding!

HA HA!! I LOL'd at this.

Here is your link.

When a left wing rag like the Washington Post has a story about this then you know we are in deep trouble.

From the article:

President Obama's proposed budget would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday.

I'll interpret "more than $9.7 trillion" as "at least $20 trillion and probably closer to $30 trillion".

Here you can see the left wing ragness of the paper showing through:

Proposed tax cuts for the middle class account for nearly a third of that shortfall.

Equating tax cuts with loss of revenue is a classic error that marxist make. However, in this case you have to be careful about the definition of "middle class". A lot of people who are really middle class are redefined as "evil rich" and will never see a tax cut.

Here is a particularly scary part:

Deficits of that magnitude would force the Treasury to continue borrowing at prodigious rates, sending the national debt soaring to 90 percent of the economy by 2020

I have a difficult time even imagining what that really means, or maybe it is too frightening to think about.

These are "pretty" numbers in my opinion. They don't include stuff like huge increases in illegal immigration and people being taxed so much that they quit trying to earn more and start looking for ways to have a good lifestyle on less money. Published numbers like this from the government are almost always optimistic.

This is humorous:

Obama is convening a special commission to bring deficits down to 3 percent of the economy

The best thing the President could do to help the situation is resign, but I'll bet that won't be one of the recommendations.

The hilarity continues:

Other policy changes, such as Obama's signature health-care initiative and a plan to dramatically expand the federal student loan program, would have significant effects on the budget, Elmendorf wrote, but they generally would be paid for and therefore would not drive deficits higher.

What kind of drugs are these people taking!? Is this Elmendorf character serious? Does anyone actually think that the socialized medicine plan "would be paid for and therefore would not drive deficits higher"?

This reminds me of a Three Stooges episode. The relevent part starts about 8:40.


I feel like the government is blowing more holes in the bottom of this sinking ship to let the water back out. I don't think it's going to work.