Obama Budget Questioned

The Tinkerbell Economics geniuses in the White House and leading the Dems in Congress are massively misunderestimating the cost of their latest porker excursion, according to the non-partisan CBO (actually, they are center-left so I would imagine the real numbers are even worse). Yahoo:

The federal budget deficit for the current year will top $1.8 trillion under the latest estimates produced by congressional economists, say Capitol Hill aides briefed on the figures.

The Congressional Budget Office's estimate of President Barack Obama's budget for next year show a worsening picture for 2010 as well, with a deficit of almost $1.4 trillion expected under administration policies. Obama had predicted about $200 billion less.

The aides spoke on condition of anonymity in advance of public release of the figures later Friday.

Meanwhile, Treasury punts on a toxic assets plan yet again, the core issue we need to deal with in this country before the economy can get moving again. Get that done first before shoving another big budget down our throats. And after Congress going insane yesterday who can trust they won't change the rules again and demonize anyone who has anything to do with them. Ask yourself why no sensible person wants to work at Treasury.

Get a grip and grow up Democrats. You think you can run everything yet you are managing nothing. The president goes on a comedy show while the country grows more and more angry.

Sit down at the table and build some consensus for an affordable, consistent and transparent approach to this budget and the issues of the day. You are tearing this country apart and you may end up destroying yourselves along the way.

P.S.

Thanks to our stupidity bailouts, we now own major stakes in these firms--at mind-boggling expense. So it's not clear why we want to destroy them. But that's what we seem determined to do.