Deficits

  • 22 Apr 2013 at 5:44 PM

Irish Eyes Are Smiling

Because they’ve gotten a tiny bit of good news. Or because they are, in spite of history both distant and recent, congenitally optimistic without cause, at least when compared with Egyptians. Read more »

  • 11 May 2009 at 10:03 AM

We Are As Dumb As We Look

Yes, they were eye-wateringly high, but you didn’t really believe the initial budget deficit estimates that came out of the White House, did you? I mean, you knew they were a crock of reptile dung when first their stench wafted by your nostrils, didn’t you? Or did you? Were you soothed by the placating and calming words that accompanied the figures? Are you as likely to be cowed by assurances that there are a few billions in savings in there somewhere that over the years will “add up?” Exactly how financially challenged do the powers that be think we are?
Wait, don’t answer that.

The White House on Monday pushed up its forecast for the U.S. budget deficit for this year by $89 billion, reflecting the recession, a raft of new unemployment claims and corporate bailouts.
A fresh estimate of the deficit showed it coming in at $1.84 trillion — representing a massive 12.9 percent of gross domestic product — in the current 2009 fiscal year that ends on September 30. A prior White House forecast released in February projected a deficit of $1.75 trillion, or 12.3 percent of GDP.

White House forecasts higher U.S. budget deficit [Reuters]