Obama's new $9.7 TRILLION deficit not Bush's

Obama's new budget would result in a $9.7 TRILLION deficit


March 07, 2010
President Obama and Democrat leaders are talking about "reducing the deficit" with such things as "Pay Go," appointing a "commission" to study how to reduce the debt, etc. But as the Washington Post is reporting, the Congressional Budget Office has said that Obama's proposed budget would add much more to the national debt than they are claiming.

The CBO calculates that Obama's budget would add more than $9.7 TRILLION dollars to the national debt over the next decade. Says the CBO:

Deficits of that magnitude would force the Treasury to continue borrowing at prodigious rates, sending the national debt soaring to 90 percent of the economy by 2020, the CBO said. Interest payments on the debt would also skyrocket by $800 billion over the same period.

Commentary

We would suggest that most Americans have no real concept of how much money $9.7 TRILLION actually is. We sure do not. But you may find this interesting:

If one stacks hundred dollar bills on top of one another,

Here's what a million dollars looks like

Here's what a Billion dollars looks like it is ten hundred million.

And here's what a TRILLION dollars looks like. It is ten hundred billion.

Again: $9,700,000,000,000.