White House Underestimated 2012 Deficit By 138% — $557.4 Billion Versus Actual $1.32 Trillion…
Just a tad off.
(CNS News) — President Barack Obama released a budget today that estimates the federal deficit will drop to $901.4 billion in fiscal 2013, resulting in the first federal deficit of less than $1 trillion since Obama was elected in 2008. It also predicts the federal deficit will decline sharply in fiscal 2014, dropping all the way to $667.8 billion.
But the White House does not have a good record in estimating what the federal deficit will be in future years.
In February 2009, Obama submitted his first budget to Congress. It boldly predicted that the federal deficit would decrease dramatically during Obama’s term, dropping from an estimated $1.841 trillion in fiscal 2009 to $557.4 billion in fiscal 2012.
However, in the fiscal 2013 budget that Obama submitted to Congress today, the White House is predicting that the federal deficit for fiscal 2012 will not be $557.4 billion after all. Instead, the White House says, it will be $1.3269 trillion.
That means Obama’s fiscal 2010 budget proposal missed on its fiscal 2012 deficit prediction by $769.5 billion — an error of 138 percent.
Posted by ZIP on Monday, February 13, 2012, at 8:08 pm | 
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Somewhere in Zimbabwe, a village is missing its economist.
Like he cares anyway. Everything he does is smoke and mirrors.
All Republicans have to do to win in 2012 is present a balanced budget in the House, and tell the Democrat Party that THEY HAVE NO CHOICE. Not balance the budget 5 years from now. Not 2 years. Now. No deficits. Never again. Attach a balanced budget amendment.
Republicans do that, they win Congress with by a margin that the Dems cannot stop, and take the White House to boot.
Anything less and this country is done.
DAYYUUUMM !! Can’t the smartest,most educated individuals since the beginning of time afford a friggin’ pocket calculator FFS?? SSHHHHEEESSSHH !! And these are the same people I’m supposed to trust my healthcare too?? Hoolleee shit !! I think I’ll go ahead and off myself now and save all the suffering.
Big numbers always confused me to. It’s cool Dude, we understand.
How much Freaking Glue and Paint are these guy’s Huffing.
No responsible group makes a mistake like this.
The key word is responsible.
http://www.zerohedge.com/news/gop-finally-discovers-obamas-achilles-heel-just-let-him-do-what-he-does-and-encourage-it
I have to say ZH makes an interesting pitch, let Barry have a massive stimulus, there is no way to fight the drones, let him do it, those who know what’s going on, take care, prepare, help your neighbors, but the rest, the only way to defeat the left may be this, who knows?
thought this was an interesting pitch by ZH.
Must have used Tim Turbo Tax Geithner’s calculator.
D’oh!!
All together, people: 1,2,3, Bush’s Fault!
@ a former dem
“Just Let Him Do What He Does… And Encourage It!”
Let Debbie Downer have all the press conferences she wants.
Let Uncle Joe make all the statements that he wants. In fact give Joe a TV show.
Been think this same thought for quite some time. Now, if he get’s a second term, this will not be a good thing to encourage him.
Thanks for the link.
Speaking as a CPA, at this point it’s immaterial.
Also speaking as a CPA, any CEO with this kind of track record would have been shown the exit two years ago. Kim Jung O does as he pleases.
That’s not your chair. It is ours. Don’t lean back in it.
That’s not a chair its a throne and the fact that the Kenyan can’t count is hardly a surprise. He reads well but I think he is an idiot savant. When he has to ad lib he sounds like a drooling cretin.
connivers from the get go
@Holder’s AK-47s kill Mexicans
Look closer…he has his ghetto shoes propped on the table in complete disregard to public property.
“Let me make this perfectly clear. They told me to vote ‘present’ and that there would be no math.”
The undoing of America… One trillion $$$ at a time.
Yet they even want to spend more. I wish that I could employ their logic so that I could live in the lifestyle that I’d like to become accustomed to…
You must be my brotherfromanothermother. That’s exactly what I was thinking.
me too, Grumps.
Madrassa economics ..
Math is not one of our strong suits around here. 2+2= 1.6 TRILLION per year at least, how else can we afford our parties and beer summits and break the back of this country. You’ll be like Greece soon enough.
Obama has become the Harry Doyle of politics:
“Juuuuusstt a bit outside”.
At least Bob Uecker was funny when he said it.
The budget is about the same off as the azzploding Obowwah in in his head….
Sh*t folk’s, when you think you are the King, numbers don’t mean a damn
thing and only get in the way……
When you have the media whores covering ever move this turd makes and
the 40% of Americans who don’t know jack from jill, then the black magic
voodoo doctor feels he can slide through this ring as long as he barks at the
ending….
I make those types of mistakes every day at work.
Dumber than a fifth grader.
An easy way to stop the spending lust in its tracks.
Convince enough taxpayers to boycott tax day 2012 &/or 2013. Only agree to pay when spending is cut enough to generate surplusses and budgets are all balanced. Without those funds they cannot operate. They cannot arrest all of us for not paying since they would not be able to afford to do it, or to imprison and feed us all even if they did. It would also be political suicide to attempt it.