White House Sees Cumulative Deficits $2.1 Trillion Higher Than It Projected A Year Ago

On February 1, 2010, in Debt, Uncategorized, by admin

It turns out that in the budget it announced last February, the White House Office of Management and Budget projected cumulative deficits of $6.97 trillion for fiscal years 2010 through 2019, but in the budget it announced today, the comparable number swelled to $9.09 trillion — or an increase of about $2.1 trillion. In fiscal year 2011 alone, the deficit is now projected to be $1.27 trillion, compared to the year ago estimate of $912 billion — an increase of $355 billion for next year alone.

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