Saturday, March 6, 2010

$ 1.2 Trillion -- A Minor Revision

The Congressional Budget Office yesterday released a revised projection of the increase in the U.S. national debt over the next decade. The earlier, optimistic, forecast, from the White, was that a mere $ 8.5 Trillion would be added to the national debt in ten years (yes, that will more than double the national debt since Obama was sworn into office). Now, the CBO has calmly announced a minor uptick to $ 9.7 Trillion. These, of course, are optimistic projections, coming from the Democratically controlled CBO. The reality will be far worse. Move over Greece, here we come!