Patterico's Pontifications

8/22/2009

Obama’s Projected Budget Deficit

Filed under: Obama — DRJ @ 12:18 pm



[Guest post by DRJ]

Obama's budget deficit

— DRJ

23 Responses to “Obama’s Projected Budget Deficit”

  1. I’m posting this for future reference and to make it easier to link.

    DRJ (3f5471)

  2. The Obama Administration just announced that their 10-year projection went up 2 Trillion, bringing it more in line with the CBO, but still doesn’t account for the tax-cuts expiring soon.

    Scott Jacobs (d027b8)

  3. Hmmm. Don’t see the off budget ’emergency funded’ wars Bush initiated or his TARP/bailout bucks graphed in gray. The Obama Admnistration has included those cost projections in his more honest budget estimates.

    DCSCA (9d1bb3)

  4. Don’t see the off budget ‘emergency funded’ wars Bush initiated or his TARP/bailout bucks graphed in gray.

    Actually, since it was still a spending item, it is included in the debt.

    Scott Jacobs (d027b8)

  5. DCSCA – You would be full of shit. The Bush numbers are final.

    daleyrocks (718861)

  6. Scott – Since Bush left Obama a large slug of unspent TARP money after increasing the authorization at the request of the Democrats, the impact of that on the deficit was completely yp to Owebama’s discretion.

    DCSCA – Where are the jobs?

    daleyrocks (718861)

  7. Actually, its looking like Obama’s near trillion dollars in “stimulus” was not merely a failure but may be extending the recession. Several European countries that did not attempt large government spending programs are starting to show economic growth while we are not.

    SPQR (26be8b)

  8. Oh, and since Friday’s little leak of an extra two trillion projected debt over the next ten years, this graph is actually obsolete in an overly optimistic way.

    SPQR (26be8b)

  9. Mark Steyn agrees with you, SPQR.

    DRJ (3f5471)

  10. Comment by SPQR — 8/22/2009 @ 2:04 pm

    Only for the part that has the Administration’s projections. The CBO numbers are still fairly close (though I suspect they need to be re-figured again just to take into account the continuing economic slump)

    Scott Jacobs (d027b8)

  11. Let me know if anyone finds a chart that’s been updated to reflect Obama’s revised deficit numbers.

    DRJ (3f5471)

  12. George Soros will continue to have a very good crisis.

    SCLAW (a94dbf)

  13. My apologies if that sounded like a slam on you, DRJ, it was not so intended.

    SPQR (26be8b)

  14. I’m posting this for future reference and to make it easier to link.

    How about using the revised estimates, DRJ?

    Current administration estimate – $1.58 trillion. The FY 2009 deficit bequeathed on 01/20/09 – $1.2 trillion. The new CBO mid-session numbers come out Tuesday.

    A prime driver of the current deficit is the recession itself – the sharp fall in economic activity, lowered salaries and taxable incomes, fallen corporate profits, and a general decrease in withholding and payroll taxes.

    Why up-to-date information about how the economy performed late last year isn’t factored in before the end of August remains a mystery.

    [note: fished from spam filter]

    steve (0b26d0)

  15. SPQR,

    I didn’t take it that way. I want to post the most current chart because I want to have it available in case I need to link or refer to it in the future.

    steve,

    I’d be happy to post an updated chart but this is the most recent I could find. Let me know if you find something more current that is as easy to read as this one.

    I’d also like to add other financial information here for future reference, such as the chart that compares the actual and projected unemployment rates. However, I’m having a senior moment and can’t remember which blog I saw it at.

    DRJ (3f5471)

  16. It is hilarious that the Obama administration dump the admission that the CBO’s deficit numbers are better than theirs on the Friday that the Obama’s head out to vacation.

    Hey, remember all those Democrat BDS sufferers whining about Bush going to Crawford Texas on vacation in August? Why is Obama on vacation when we are still in a recession and Afghanistan is a mess? I guess that silly meme died on Jan 20 too.

    SPQR (26be8b)

  17. I’d be happy to post an updated chart but this is the most recent I could find.

    The WaPo art department is no doubt waiting until Tuesday. We all should. The graphic is from March.

    New CBO numbers will serve as extra ammunition in the health-care overhaul debate. On both sides. And no matter the numbers.

    steve (0b26d0)

  18. DRJ @3:45 PM

    I’d also like to add other financial information here for future reference, such as the chart that compares the actual and projected unemployment rates. However, I’m having a senior moment and can’t remember which blog I saw it at.

    That would probably be innocentbystanders.net

    Stu707 (0981d5)

  19. Don’t see the off budget ‘emergency funded’ wars Bush initiated or his TARP/bailout bucks graphed in gray.

    President Obama voted to the TARP/bailout.

    In a very real sense, he owns the bailout as much as President Bush does.

    Michael Ejercito (833607)

  20. A lot of the bailout activities that took place post election were cleared by the Bush administration with Obama, especially the automaker bailouts that begun under Bush.

    SPQR (26be8b)

  21. DRJ, I think the jobs chart you want is here – the original chart Obama used to justify the stimulus annotated with actual employment figures.

    SPQR (26be8b)

  22. […] graph posted at Patterico’s Pontifications: Obama’s Budget Deficit seems scary […]

    A Solitary Conspiracy » Obama’s Deficit and Future Recessions (6ffebc)

  23. The chart does not include Obamacare.

    bullwhacker (6412b6)


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