Mid-Session Budget Review Is So Bad Obama Wants It Delayed
In a move designed to keep the American people form finding out how bad the budget deficit is, Obama wants to delay the release of the Mid-Session budget Review one month to August.
To justify this, the Obama administration said : we are just like George W Bush
Here is the Bloomberg article
“The report is an update on how the White House views the economy compared with its forecast delivered in February. At that time, the Obama administration predicted the economy would contract 1.2 percent this year before growing by 3.2 percent in 2010 and 4 percent in 2011.
The White House also said the jobless rate would average 8.1 percent this year, though it climbed to 9.5 percent last month. Obama said in a Bloomberg Television interview in June that he expects it to exceed 10 percent this year, and Vice President Joe Biden said on ABC earlier this month that the administration “misread how bad the economy was” in making its initial projections.
A worsening jobs picture compared with February’s forecast and a still-weak economy may make the deficit picture look worse than the $1.84 trillion forecast this year, about four times the previous record of $455 billion. Next year’s deficit was projected to decline to $1.26 trillion.
Gibbs said he expected the review to show “the budget situation is going to be even more challenging” than February’s forecast. He didn’t elaborate…”
Read the article in its entierty here
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