View Full Version : CBO: Huge deficits to average $1 trillion per year over the next decade

03-07-2010, 10:15 AM
President Barack Obama's budget will lead to deficits averaging nearly $1 trillion over the next decade, the CBO estimated Friday.

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 Obama administration estimated its policies would lead to an average annual budget shortfall of $853 billion for the next 10 years.

CONTINUED (http://thehill.com/homenews/administration/85237-cbo-estimates-huge-deficits-average-1-trillion-per-year-for-the-next-decade)