White House Adds $2 Trillion to Deficit Forecasts

From Washingtonpost.com

The nation would be forced to borrow more than $9 trillion over the next decade under President Obama's policies, the White House acknowledged late Friday, bringing their long-term budget forecast in line with independent estimates.

The new projections add approximately $2 trillion to budget deficits through 2019. Earlier this year, the administration had predicted that Obama's policies would require the government to spend $7.108 trillion more than it collects in tax revenue over the next decade.

Critics called the administration overly optimistic, charging that Obama's figures masked the depth of the nation's fiscal crisis and falsely suggested that his policies would stabilize the nation's growing debt to China and other foreign creditors.