The CBO paints a very grim picture of the U.S budget deficit. The U.S. budget deficit will be $1.2 trillion more than predicted by the Obama administration.

Obama budget deficit will be 3 times higher than Bush's last year in office.

This doesn’t look good at all. The out of control run away spending is simply unsustainable. This doesn’t include Obama’s health care which if passed will collapse the system in time to come.

AP – A new congressional report released Friday says the United States’ long-term fiscal woes are even worse than predicted by President Barack Obama’s grim budget submission last month.

The nonpartisan Congressional Budget Office predicts that Obama’s budget plans would generate deficits over the upcoming decade that would total $9.8 trillion. That’s $1.2 trillion more than predicted by the administration.

The agency says its future-year predictions of tax revenues are more pessimistic than the administration’s. That’s because CBO projects slightly slower economic growth than the White House.

CBO projects $1.5 trillion deficit for 2010 in Obama budget:

The federal deficit would hit $1.5 trillion in 2010 under President Barack Obama’s proposals, the Congressional Budget Office (CBO) projected Friday.

Just a simple little message to President Obama and Congress: The Party is Over and it’s now time to clean up the mess!

Related posts:

1. CBO: Obama Budget To Generate $10 Trillion In Budget Deficits
2. Obama racked up a record-high monthly budget deficit of $220.9 billion in February
3. 3 Reasons Health Care Reform Will Not Reduce The Deficit
4. Karl Rove: Obama Versus Bush on Spending
5. Steny Hoyer: A Balanced Budget Is Too Long To Wait For Congress To Get Pay Raise