That is the average deficit projected over the next ten years:
The Congressional Budget Office (CBO) said President Barack Obama’s budget would lead to annual deficits averaging nearly $1 trillion for the next decade.
The estimates are for larger deficits than the budget shortfalls expected by the White House.
Annual deficits under Obama’s budget plan would be about $976 billion from 2011 through 2020, according to a CBO analysis of Obama’s plan released Friday.
The reality is, of course, that we won’t be able to do this. There isn’t ten trillion dollars for us to borrow in the world – if we try to go with Obama’s plan, we’ll have to default on our debt in just a couple years as we become unable to borrow to refinance the current debt (when you’re in deficit, you really don’t have the money to pay off the debts coming due, ya dig?). We’ll wind up like Greece, or worse.
This is the insanity of our left – with this stark fact, national bankruptcy, staring us in the face their whole focus is on spending even more. They are just completely divorced from reality.
Our chance comes in November – we can prevent this.
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