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The PJ Tatler

by
Bryan Preston

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March 19, 2011 - 3:43 pm

Doug Ross takes a look at what we learned about the Obama budget this week. It’s not pretty.

Douglas Holtz-Eakin offers us a sobering snapshot of the latest Congressional Budget Office (CBO) report on President Obama’s budget. I won’t bore you with the details. Only a few low-lights are necessary.

• The national debt-to-GDP ratio rises above 87 percent – close to that of Greece.

• Their numbers are rosy because the CBO’s deficit projections include $500 billion in Obamacare Medicare cuts without a so-called “doc fix”. Obamacare also places immense obligations on state Medicaid systems when states can least afford them.

• The CBO predicts a downgrade of the U.S. as a sovereign borrower in only seven years. Put simply, the full faith and credit of our country is critically wounded as the federal government loses its coveted AAA credit rating. In short, it’s like an individual having a crappy credit score: everything costs more.

The executive summary according to the Associated Press? “CBO: Obama understates deficits by $2.3 trillion.”

In this case, the word “understates” means “lies about“.

Read the rest at the link.

Bryan Preston has been a leading conservative blogger and opinionator since founding his first blog in 2001. Bryan is a military veteran, worked for NASA, was a founding blogger and producer at Hot Air, was producer of the Laura Ingraham Show and, most recently before joining PJM, was Communications Director of the Republican Party of Texas.
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