Posted by: Kevin | July 28, 2008

This is Probably Obama’s Fault*

From Bloomberg:

The U.S. budget deficit will widen to a record of about $490 billion next year, an administration official said, leaving a deep budget hole that will constrain the next president’s tax and spending plans.

The article goes on to detail the causes for the deficit shortfall (two wars, economic stimulus package, tax receipt slow down, etc).  Long story short, the short to medium term prospects look pretty grim right now.  But fear not says White House Press Secretary Dana Perino.

Asked today if the administration still believes it’s on a path to a balanced budget by 2012, White House press secretary Dana Perino said , “I believe so, yes.”

She called the deficit “temporary and manageable.”

That’s great, the administration that spent like a drunken sailor, that failed to meaningfully address the growing cost of Medicare, Medicaid and Social Security, has left us a road map to solvency.  Why am I not excited?

*Title is in reference to this

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