President Obama's budget will likely produce $13 trillion in deficit spending over the next 10 years--nearly $4 trillion more than forecast. The White House figures are based on unrealistic estimates of discretionary spending, interest payments, and interest rates. The White House also used budget gimmicks to hide the full cost of certain entitlements and failed to account for the full costs of cap-and-trade energy legislation and health care reform.
Friday, September 25, 2009
President Obama's Agenda Would Bring $13 Trillion in Budget Deficits, Not $9 Trillion
From Heritage.org
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