The Obama Administration has come out and said that it has made a mistake on how much you and I are supposed to pay over the next 10 years for his credit card spending spree. He has now revised the deficit costs to approximately $9 trillion, up from $7.108 trillion that his administration estimated despite the Congressional Budget Office saying he was off his rocker for months.
This current "math error" is just further proof that this administration doesn't really care what you or I think or what you and I will have to pay. They think that they can continue on this path of "misspeaking" and that we are to accept it as a legitimate mistake on their part.
Exactly how many times have Obama officials "Misspoke" in past few months?
It's getting old and anyone who supports this guy needs to start thinking twice. He is no different than any charlatan at a county fair who would rip you off and apologize afterward. Obama is a product of the "no accountability" and "no personal responsibility" culture that has risen it's ugly head in this country over the past few decades. This culture preaches that you can do whatever the hell you want and never actually face the consequences for it.
Unfortunately, when it comes to this country, we will all pay the price for his continued spending spree, whether it be health care or an amnesty for illegal aliens. Long after this guy is gone we will still be paying the bill, as will our children and grandchildren. Meanwhile, he will move away and build his library of "I am great" and "look at my legacy". This is all quite clearly headed to a legacy of shame that will be washed over, purified and made to look like some sort of success story.
This latest deficit "snafu" is not a mistake, it is a deliberate act of misleading and an attack on the American people for one man's ego.
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.
The White House took heat for sticking with its $7.108 trillion forecast earlier this year after the Congressional Budget Office forecast that deficits between 2010 and 2019 would total $9.1 trillion.
"The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year," said the administration official, who is familiar with the budget mid-session review that is slated to be released next week.
"Our budget projections are now in line with the spring and summer projections that the Congressional Budget Office put out."
Record-breaking deficits have raised concerns about America's ability to finance its debt and whether the United States can maintain its top-tier AAA credit rating.