As I predicted way back when, the White House has been forced to “revise” their deficit projections to more accurately reflect their insane spending spree reality. A revision to the tune of a whopping 27% increase:
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.
This administration argued all along that their numbers were right, the CBO’s wrong, and that everyone just needed to simmer down and let time prove them right. Well they just ate a big piece of humble pie because the CBO was right from the get go:
The White House took heat for sticking with its $7.108 trillion forecast earlier this year after the Congressional Budget Office forecast that deficits between 2010 and 2019 would total $9.1 trillion.
"The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year," said the administration official, who is familiar with the budget mid-session review that is slated to be released next week.
New data? The CBO didn’t need “new data” to nail their $9.1 trillion projection months ago that the White House now projects. It just goes to show everything this administration says or agrees to is a bald faced lie comes with an expiration date.
If there’s anyone still out there that takes anything said by this administration at face value, I have a couple of sweet bridges to sell you. Their untruthfulness has become so apparent in so many aspects of their agenda it’s comical.
