Silly White House, Math Is For Kids

Washington Post:

[President Obama's proposed budget would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday. Proposed tax cuts for the middle class account for nearly a third of that shortfall.

The 10-year outlook released by the nonpartisan Congressional Budget Office is somewhat gloomier than White House projections, which found that Obama's budget request would produce deficits that would add about $8.5 trillion to the national debt by 2020.

The CBO and the White House are in relative agreement about the short-term budget picture, with both predicting a deficit of about $1.5 trillion this year -- a post-World War II record at 10.3 percent of the overall economy -- and $1.3 trillion in 2011. But the CBO is considerably less optimistic about future years, predicting that deficits would never fall below 4 percent of the economy under Obama's policies and would begin to grow rapidly after 2015.

Deficits of that magnitude would force the Treasury to continue borrowing at prodigious rates, sending the national debt soaring to 90 percent of the economy by 2020, the CBO said. Interest payments on the debt would also skyrocket by $800 billion over the same period. ]

At this point, i think even my math is better than the White House. And trust me i stink at math. This is not the first projection that is wrong. If you recall earlier this past summer the White House had a debt estimation wrong, that one by 2 trillion.

This article, points out that by 2020, if we continue down this path, the national debt will be at 90% of our economy. Have you people all lost your minds!? 90%. That is unheard of. 90% of the US economy. Well, at least it's a good thing Obama is cutting the national debt in half like he promised.