Dems freak out over CBO report, blame Bush for next year's deficit 

The CBO has a new report predicting huge deficits, a slow economic recovery, and a $75 billion cost overrun on President Obama's stimulus package.

From Stephen Dinan at the Washington Times:

The CBO now says the stimulus package, passed by Congress last February, will cost $862 billion over 10 years because of the added unemployment-related costs. The program had originally been estimated to cost $787 billion when Mr. Obama signed it in February...Already, the deficit for fiscal year 2010, which began in October, is likely to reach $1.3 trillion -- the second largest deficit on record, behind 2009's final $1.4 trillion.

And Democrats are taking a page out of David Plouffe's playbook: Blame the other guy.

House Democratic leaders said a report by the Congressional Budget Office (CBO) showing a $1.35 trillion deficit in 2010 was the result of policies put in place by President George W. Bush and Republicans in Congress..."90 percent of the projected deficit is due to the cost of the Bush economic collapse and Bush policies like his unpaid for tax cuts for the wealthy," said House Democratic Caucus Chairman John Larson (Conn.)...

For the record, those tax cuts, which expire next year, cost less than next year's projected deficit, and that's over their entire ten-year lifetime.

About The Author

David Freddoso

Bio:
David Freddoso came to the Washington Examiner in June 2009, after serving for nearly two years as a Capitol Hill-based staff reporter for National Review Online. Before writing his New York Times bestselling book, The Case Against Barack Obama, he spent three years assisting Robert Novak, the legendary Washington... more
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