Skip to main content
Tags: US | Budget | Deficits

Congressional Estimates Show Grim Deficit Picture

Friday, 05 March 2010 03:58 PM EST

A new congressional report says the United States' long-term fiscal woes are even worse than predicted by President Barack Obama's grim budget submission last month.

The nonpartisan Congressional Budget Office predicts that Obama's budget plans would generate deficits over the upcoming decade that would total $9.8 trillion. That's $1.2 trillion more than predicted by the administration.

The agency says its future-year predictions of tax revenues are more pessimistic than the administration's.

For the ongoing budget year, CBO predicts a record $1.5 trillion deficit. That's actually a little better than predicted by the White House.

The deficit picture has turned alarmingly worse since the recession that started at the end of 2007.

© Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.

Newsfront
A new congressional report says the United States' long-term fiscal woes are even worse than predicted by President Barack Obama's grim budget submission last month.The nonpartisan Congressional Budget Office predicts that Obama's budget plans would generate deficits over...
US,Budget,Deficits
111
2010-58-05
Friday, 05 March 2010 03:58 PM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© 2025 Newsmax Media, Inc.
All Rights Reserved
Download the Newsmax App
NEWSMAX.COM
America's News Page
© 2025 Newsmax Media, Inc.
All Rights Reserved