CBO: Federal Budget Deficit, national debt to soar to $544 BILLION

We have a collapsing GDP and now the deficit Progressives have boasted about for years.... Now it is going in the opposite direction.

CBO: Federal budget deficit, national debt to soar
The Orange County Register Feb 8, 2016

Under the CBO’s forecast, the annual budget deficit will increase, as a share of the nation’s gross domestic product, to $544 billion — the first time it has done so since 2009, when the deficit peaked at $1.4 trillion.

Revenue, as a percentage of GDP, will remain above the 50-year average, but still will not be able to keep pace with spending, with most of the expenditure growth going to Social Security, Medicare, Medicaid, the Children’s Health Insurance Program and Obamacare subsidies.

Over the next 10 years, CBO projects that the federal government will add another $9.4 trillion in debt, and even this is a rather rosy scenario, as it assumes Congress will not ratchet spending up again, and the economy will not experience another recession.

During the first seven years of President Barack Obama’s tenure, the national debt has increased $8.3 trillion (78 percent), and stands at $19 trillion. That translates to nearly $71,000 per household, according to CNSNews.com, relying on U.S. Treasury and Census Bureau data.

http://www.edmondsun.com/opinion/columns/cbo-federal-budget-deficit-national-debt-to-soar/article_71104dfc-cc80-11e5-849e-97edb4c5ed4d.html

Did I miss something? 1.4 trillion deficit to less than a third of the same during President Obama's term.......hmmmmmm......I guess a simple thank you President Obama would do.....

I agree with seaoat.  I want to personally thank all the dignitaries,  Presidents,  Congressmen and others,  who only spent $500 billion more than they took in this year. 
To celebrate,  I'm going to go out today and max out my credit cards.

Make sure before you max out your credit card you start two wars off budget, give a good portion of your income to Mr. Studer and Mr. Levin, and give your ss back to the government...........then I would get it.

It appears from this headline that Markle doesn't understand the difference between the national debt and the deficit...not surprising.

And, Bob, I know you're lying because you would never intentionally put yourself in debt.

This is so sad, people crying (or cheering) about what the President has done to the budget. About the only influence a President has is the Veto pen and some control over annual appropriations disbursement. Where is the line item veto??? No slug sitting in Congress wants to let that genie out of the bottle, either a Presidential LIV or a Congressional LIV.

If someone were to look at the big cost-drivers it’s entitlement spending – obligated funds that require a change to law to alter. A President can try to influence legislation in those areas but everyone knows it’s a political death sentence to try and control that spending.

Also what does it matter what McCain or Romney “would” have done? They aren’t in the race are they? That’s impossible to predict so it’s chasing a moot point. The better question is what the remaining current candidates SAY they are going to do and knowing it’s all B.S.

Politics, the biggest scam ever.

ZVUGKTUBM wrote:Please tell us what John McCain or Mitt Romney would have done to erase the budget deficit had either of them been elected President in 2008 and/or 2012. We're all ears!

I'll keep it simple for you and the other Progressives.

Whatever has been done by Lame Duck President Obama?

DO THE OPPOSITE.

Basically it really is that simple.

Cutting without growing the economy is boneheaded stupid. President Obama has seen growth and reductions in spending........this idea of spending less on government spending alone as the solution is for folks who have space between their ears. The President has wisely understood that cutting alone is a sure fire formula for a slower recovery.

2seaoat wrote:Cutting without growing the economy is boneheaded stupid. President Obama has seen growth and reductions in spending........this idea of spending less on government spending alone as the solution is for folks who have space between their ears. The President has wisely understood that cutting alone is a sure fire formula for a slower recovery.

Why wouldn't that same logic underscore raising taxes without experiencing real growth? 2% growth sucks.

2seaoat wrote:Cutting without growing the economy is boneheaded stupid.  President Obama has seen growth and reductions in spending........this idea of spending less on government spending alone as the solution is for folks who have space between their ears.  The President has wisely understood that cutting alone is a sure fire formula for a slower recovery.

You do have quite a sense of humor.

The fat cats don't want to pay taxes.  I don't want to give up my medicare benefits.  The welfare queens don't want to give up their welfare. The military/industrial complex doesn't want to give up it's profits.
And so on and so forth.

So the government keeps on borrowing.  Simple as that.

Bob wrote:The fat cats don't want to pay taxes.  I don't want to give up my medicare benefits.  The welfare queens don't want to give up their welfare. The military/industrial complex doesn't want to give up it's [its] profits.
And so on and so forth.

So the government keeps on borrowing.  Simple as that.

Here is a minuscule start.

Senator Jeff Flake Wastebook

Methodology and Acknowledgments………………………………………………………………………………………1
Introduction Letter……………………………………………………………………………………………………………………2
1. Paid patriotism ($6.8 million)………………………………………………………………………………………………4
2. Monkeys on a treadmill ($1 million) …………………………………………………………………………………..7
3. Extreme tourism ($2.1 million) …………………………………………………………………………………………..9
4. Hipster parties ($5 million) ………………………………………………………………………………………………..11
5. Koozies keep it cool ($1.3 million) ………………………………………………………………………….15
6. Pizza addiction ($780,000) …………………………………………………………………………………………………17
7. Party bus ($3 million) …………………………………………………………………………………………………………19
8. Sheep in microgravity ($1.2 million) …………………………………………………………………………………..23
9. Rich subsidies ($104.4 million) …………………………………………………………………………………………..25
10. The other white meat ($3 million) ………………………………………………………………………………….….28
11. Money up in smoke ($119 million) …………………………………………………………………………………….30
12. The world’s most expensive gas station ($43 million) ………………………………………………………..32
13. The most wasteful place in the USA ($1 billion) …………………………………………………………………35
14. Prada for your pooch ($210,000) ……………………………………………………………………………………….38
15. Cloud city on Venus ($279,000) ………………………………………………………………………………………….40
16. Political parties in Pakistan ($21.5 million) …………………………………………………………………..…….42
17. Wine classes for minors ($853,000) ……………………………………………………………………………………44
18. Dating secret of the unattractive ($276,000) ……………………………………………………………………..46
19. Jazz playing robots ($2 million) ………………………………………………………………………………………….48
20. Drought sculptures ($2.6 million) ………………………………………………………………………………………50
21. Orange river ($8 million) …………………………………………………………………………………………………..53
22. Beer: foreign food aid ($68,000) ………………………………………………………………………………………..55
23. Love at first swipe ($851,500) ……………………………………………………………………………………………58
24. Majoring in terrorism ($2,000) …………………………………………………………………………………………..60
25. Traveling circus ($8,500) …………………………………………………………………………………………………….62
26. Million dollar mansion makeover ($180,000) …………………………………………………………………….64
27. Slum lord subsidies ($60 million) ……………………………………………………………………………………....66
28. A perfect tweet ($2.6 million) …………………………………………………………………………………………….69
29. VA execs: More money less work ($1.8 million) ……………………………………………………………..….71
30. HUD housing help ($2 million) ……………………………………………………………………………………………73
31. Fat suit ($17,500) ……………………………………………………………………………………………………………….74
32. Zombies in the White House ($60,000) ………………………………………………………………………………76
33. Shrimp fight club ($707,000) ……………………………………………………………………………………………..78
34. NASA mission to Hawaii ($3 million)………………………………………………………………………….……….81
35. Punk archive ($20,000) ………………………………………………………………………………………………………83
36. Cartooning in India ($35,000) ……………………………………………………………………………………….……85
37. Back to the future day ($185,000) …………………………………………………………………………….……….86
38. How to use a lawyer guide ($728,000) ……………………………………………………………………………….88
39. Bankrupt boondoggle ($581,000) ………………………………………………………………………………………89
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40. Not the droids you’re looking for ($13.6 million) ……………………………………………………………….91
41. Sing-along brunch party ($79,000) …………………………………………………………………………………….95
42. Ultimate tailgating ($5 million) ………………………………………………………………………………….……..97
43. Russian maker faire festivals ($50,000) …………………………………………………………………………....98
44. Block party ($86,000) ………………………………………………………………………………………………………..99
45. Reindeer herding ($55,000) .…………………………………………………………………………………………….101
46. Robot lobby greeter ($2.5 million) ……………………………………………………………………………………103
47. Bogus payments ($100 billion+)………………………………………………………………………………………..105
48. Fat detector ($200,000) ………………………………………………………………………………………………..…108
49. Decision impaired campaign ($77,000) …………………………………………………………………………….110
50. Rotting Yemen aid ($700,000) ………………………………………………………………………………………….112
51. Ethanol pumps ($100 million) ……………………………………………………………………………………..…..114
52. Obamacare coverage ($400 million) .……………………………………………………………………………….116
53. Piñata appreciation ($20,000) ………………………………………………………………………………………….119
54. Unnecessary data centers ($5 billion) ……………………………………………………………………………...121
55. Swanky science soirée ($120,000) …………………………………………………………………………………...122
56. The fish who didn’t get away ($175,000) ..……………………………………………………………………….123
57. Distracting billboards ($200,000) ……………………………………………………………………………………..125
58. Life-size Pac-Man ($1.2 million) ……………………………………………………………………………………...127
59. Disability for non-English speakers ($2.6 million) .…………………………………………………………..129
60. Puppet shows ($115,000) …………………………………………………………………………………………….….131
61. Hotel shower monitor ($15,000) ………………………………………………………………………………….....133
62. IT insecurity ($1 billion) …………………………………………………………………………………………………...135
63. Smoking in Russia ($121,000) ……………………………………………………………………………………….….138
64. VA artwork and junkets ($40 million) ………………………………………………………………………….…..140
65. State fair competitions ($65,000) ……………………………………………………………………………….…...142
66. Cat tales ($300,000) …………………………………………………………………………………………………………144
67. Free rent for freeloaders ($448 million) …………………………………………………………………………..146
68. Empty buildings in Afghanistan ($110 million) …………………………………………………………………147
69. Virtual haunted house ($9,450) ……………………………………………………………………………………….149
70. Rainbow railroad lights ($2.8 million) ……………………………………………………………………………...150
71. Legacy software’s legacy (more than $9.5 million)……………………………………………………….....153
72. Truancy app ($50,000) …………………………………………………………………………………………………….156
73. California zip line ($1.8 million) ………………………………………………………………………………..…..…158
74. Paid to do nothing ($1.8 million) ……………………………………………………………………………………..159
75. Suspicious bar coasters ($2.5 million) .……………………………………………………………………………..160
76. Artificial story time ($204,000) ………………………………………………………………………………………..162
77. The world at 7 o’clock ($455,000) ……………………………………………………………………………………164
78. Maple Madness ($20,000) ……………………………………………………………………………………………...166
79. Hyper dogs ($10 million) …………………………………………………………………………………………………168
80. Cosmetology school ($1.25 million) ………………………………………………………………………………..170
81. Big pay for little work ($140,000) ……………………………………………………………………………………171
82. Yogurtopia ($77,000) ………………………………………………………………………………………………………174
83. The WAVE streetcar ($1.25 million) ………………………………………………………………………………..175
84. The library of things ($55,000) ………………………………………………………………………………………..177
85. Solar powered beer ($210,000) ……………………………………………………………………………………...179
86. Buried cemetery grant ($3.2 million) …………………………………………………………………….………..181
87. Goat truffles ($124,000) ………………………………………………………………………………………………….184
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88. Unused spare vehicles ($2.5 million) ……………………………………………………………………………….185
89. Eye doctor’s storefront ($50,000) …………………………………………………………………………………….186
90. Cheese heritage center ($300,000) ………………………………………………………………………………….187
91. Rhode Island visitors center ($9 million) ………………………………………………………………………….189
92. Guppy fishing ($899,000) ………………………………………………………………………………………………..191
93. Furnishings for a microbrewery ($68,000) ……………………………………………………………………….193
94. #Angrytweets & #heartattacks ($668,000) ………………………………………………………………………194
95. Abandoned train stations ($823,900) ………………………………………………………………………………196
96. The wine glass half full ($176,000) ………………………………………………………………………………….198
97. Gator alley ($320,000) …………………………………………………………………………………………………….200
98. Grow something in the garden state ($40,000) ……………………………………………………………….202
99. Black and blue berries ($2.37 million) …………………………………………………………………………..…203
100. Good book ($7,200) …………………………………………………………………………………………………205

http://www.flake.senate.gov/public/_cache/files/03714fa3-e01d-46a1-9c19-299533056741/final-wastebook-2015-pdf.pdf