Saturday, August 22, 2009

What’s Two Trillion Among Friends?

The Obama Administration is preparing new budget projections to be released next week indicating a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion originally forecast. That’s quite a swing.

Forecasters point to decreased revenues resulting from continued economic stagnation as the culprit. Then perhaps the administration will reconsider some of its more ambitious and expensive components of its grand experiment with social welfare, or tone down some of its "soak the rich" rhetoric (which usually means just about everyone else as well).

Speaking of which, if the administration forecasts a $1.6 trillion price tag for its not-a-government-takeover-of-healthcare takeover of healthcare, what do you suppose the “adjusted” figure will be?

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