Tuesday, January 31, 2012

Bad News for Obama and America

Despite all the Rosy predictions coming out of the White House,  it seems that the CBO (Congressional Budget Office) isn't quite so optimistic.

Here is a current note form The Hill:

News from The Hill:

CBO projects $1.08T deficit, higher unemployment
By Erik Wasson

"The Congressional Budget Office on Tuesday predicted the budget deficit will rise to $1.08 trillion in 2012.

CBO also projected the jobless rate would rise to 8.9 percent by the end of 2012, and to 9.2 percent in 2013.

These are much dimmer forecasts than in CBO's last report in August, when the office projected a $973 billion deficit. The report reflects weaker corporate tax revenue and the extension for two months of the payroll tax holiday."

Guess it's still not 'morning in America' and you can bet folks aren't better off now than they were four years ago.

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