« August 20, 2009: Delinquent Mortgages | Main | August 24, 2009: Cash-for-Clunkers and the Stimulus Package »

August 21, 2009: OMB Deficit Estimates

Late today, the White House Office of Management and Budget announced that it has revised its forecast for the budget deficit over the next ten years from $7 trillion to $9 trillion. That's right. Up $2 trillion with a capital TEE. That is a forecast error of more than 25% relative to the previous estimate of $7 trillion. Of course, these are only estimates. Expect the actual tally to exceed this estimate by a factor of two or more. Say hello to double-digit interest rates. As Warren Buffet wrote earlier this week in a NYTimes editorial, we risk becoming a "banana-republic economy" if we do not reign in these deficits. And that was before he learned of the additional $2 trillion

TrackBack

TrackBack URL for this entry:
http://www.krahenbuhlglobal.com/blog-mt/mt-tb.fcgi/8


Hosting by Yahoo!

Comments

Excuse me for being Off-Topic ... what Word Press theme do you use? It's looking great.

This post is great. I'm going to put this in my bookmarks before I lose the url I don't believe I'll ever make it back here otherwise!

I have a blog very similar to this one. You provide some good information on the subject and I wondered if I could reference your site on my blog?

Wow! what an idea ! What a concept ! Beautiful .. Amazing :

nice share, good

article, very usefull for me...thank you

I enjoy reading the report, too. It′s easy to understand that a journey like this is the biggest event in ones

life.

good share, great article, very usefull for us...thanks!

Thanks for posting! I really enjoyed the report. I've already bookmark

this article.

Thanks for sharing this and have a great day! Visit this!

Thanks for posting! I really enjoyed the report. I've already bookmark

this article.

I like that you

think. Thank you for share very

I was scanning something else about this on another blog. Interesting. Your position on it is diametrically contradicted to what I read before. I am still mulling over the opposite points of view, but I'm tipped to a great extent toward yours. And irrespective, that's what is so great about contemporary democracy and the marketplace of thoughts online.

You are doing a great job at your blog, man. I have been always a reader of your blog.

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)