Saturday, August 22, 2009

Obama & His Deficit Promises

Remember when Obama vowed to cut huge deficit in half? Here is the link to that story.

Well, according to Reuters article (no right wing news agency!) Obama to raise 10-year deficit to $9 trillion!
The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.

The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama's opponents, who say his spending plans are too expensive in light of budget shortfalls.

We are witnessing "Hope and Change" in action.