Obama Sees Dramatic Reduction in Deficits

Washington Post: “President Obama is just out with his newest budget request — which forecasts a dramatic reduction in deficits over the coming decade. The request paints a much rosier debt scenario than a report released by the nonpartisan Congressional Budget Office a month ago. In his budget request, Obama projects public debt as a percentage of gross domestic project falling to 69 percent by 2024, while the CBO has it rising to 79 percent — a difference of 10 percentage points, or roughly $2.7 trillion.”

“This is largely because Obama assumes the passage of legislation that the CBO doesn’t, and he assumes those laws will generate far more revenue over the next decade.”


Read previous post:
Warren Buffett: Economic Growth is ‘Remarkably Consistent’

Investor Warren Buffett predicts a steadily improving economy with growth that has been "remarkably consistent." The Hill: Buffett "said even...