Monday, March 08, 2010

Cong. Budget Office: $10 trillion jump in debt under Obama budget

While the president tries to ram an expensive health care plan down our throats, the Congressional Budget Office gives us another reason to oppose ObamaCare. Money, or lack of it. Of course Obama keeps telling us that his health care plan will be deficit neutral, but isn't he the same guy who said ObamaCare negotiations would be televised on CSPAN? It is.

From CNN:

If President Obama's 2011 budget were put into effect as proposed, the U.S. federal government would add an estimated $9.8 trillion to the country's accrued debt over the next decade, according to a preliminary analysis from the Congressional Budget Office.

Of that amount, an estimated $5.6 trillion will be in interest alone.

By 2020, the agency estimates debt held by the public would reach $20.3 trillion, or 90% of GDP. That's up from 53% of GDP in 2009.

Hope and change, baby.

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