Obama’s Budget Worse Than Thought
CBO isn’t kind.
Barack Obama’s budget will not become law – it failed 413-2 in the House (which is actually better than previous versions). But the CBO analyzed it, and found that it’s even worse than we thought. CBO says it would create deficits of $6.6 trillion over 10 years – $1.6 trillion higher than the White House claimed. Primarily, that’s because the administration’s Hope ‘n’ Change™ bled a little too much into its economic predictions. Furthermore, CBO says, Obama’s debt bomb contains $1.4 trillion more in tax increases than he said. We know readers will be disappointed to learn that the White House wasn’t accurate.
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