Obamanomics: From Bad to Worse

From Investor's Business Daily:

When it comes to the budget deficit, things just keep getting worse. As recently as May, the White House predicted $8.95 trillion in deficits over the next decade. Today, just four months later, thanks to slower economic growth and higher spending, the 2009-19 deficit is expected to hit $10.63 trillion — more than $1.68 trillion higher. This means more debt. Since its founding in 1776 all the way to last year, the U.S. had accumulated a total net debt of about $5.3 trillion. According to new estimates, that will nearly triple to $14.1 trillion by 2019.

Originally posted at TONY PHYRILLAS