Saturday, August 22, 2009

What Me Worry?

Obama to raise 10-year deficit to $9 trillion
By Jeff Mason | Reuters | August 21, 2009

WASHINGTON (Reuters) - The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.

UPDATE 3 -White House, CBO see budget deficts for years ahead

WASHINGTON, Aug 25 (Reuters) - The U.S. national debt will nearly double over the next 10 years as recession crimps government revenue while spending on retirement and medical benefits soars, official forecasts said on Tuesday.