Tuesday, August 25, 2009

The U.S. $9 Trillion Deficit Got Lost In Bernanke Reappointment

Obama administration used reappointing Bernanke as cover up for the biggest deficit in the U.S. history. Was it a coincidence? I don't think so. Bernanke term would be over in late January 2010, what was the rush for president to announce it while he is on vacation?!!!! Think about it.

The U.S. government faces exploding deficits and mounting debt over the next decade, White House and congressional budget officials projected Tuesday in competing but similar economic forecasts.
Both the White House Office of Management and Budget and the nonpartisan Congressional Budget Office predicted the budget deficit this year would swell to nearly $1.6 trillion, a record, and far above the then-record 2008 budget deficit of $455 billion.
But while figures released by the White House foresee a cumulative $9 trillion deficit from 2010-2019, $2 trillion more than the administration estimated in May, congressional budget analysts put the 10-year figure at a lower $7.14 trillion.