Preference on healthcare reform issue

[Danzig]

http://www.washingtonpost.com/wp-dyn...siness/economy


Deficits higher than Obama forecast: CBO

By Doug Palmer
Reuters
Friday, March 5, 2010; 11:49 PM

President Barack Obama's budget plans would rack up $9.8 trillion more debt by 2020, or $1.2 trillion more than the White House has forecast, the Congressional Budget Office said on Friday.



But working with staff of the congressional Joint Committee on Taxation, it made a preliminary estimate that Obama's proposals would boost the budget deficit in fiscal 2010 to $1.5 trillion, or 10.3 percent of U.S. gross domestic product.

"Measured relative to the size of the economy, the deficit under the President's proposals would fall to about 4 percent of GDP by 2014 but would rise steadily thereafter," CBO said


"Under the President's budget, debt held by the public would grow from $7.5 trillion (53 percent of GDP) at the end of 2009 to $20.3 trillion (90 percent of GDP) at the end of 2020," CBO said.