Our Economic Situation 1/12

A few numbers for you from the Congressional Budget Office‘s latest report:

The largest deficit recorded before Obama was $458 billion in 2008. Half a trillion, in Bush’s LAST year.

In the Bo Dizzle’s FIRST year:

The deficit was $1.4 trillion in 2009,

$1.3 trillion in 2010, and…

$1.3 trillion in 2011.

Now this isn’t the same as the 15 trillion deficit talked about over the course of the next blah-blah years. This is how much money, in ONE year, the government has overspent, above what they take in.

Let’s Multiply!

458 billion x 3 = 1.374 trillion

So, teh Bo TRIPLED the deficit in his first, second, and third year in office! Dare we see what happens to the deficit in this final year…..?

Okay…. new numbers:

CBO had forecast an 8.5 percent unemployment rate for the end of 2012 in its August report. It now expects the jobless rate to be higher, and to still be at 7 percent in 2015.

The higher unemployment numbers are due to lower economic growth than previously estimated.

Um, what they’ve disguised there is: the unemployment rate is HIGHER  than 8.5% And that’s the artificially lowered rate they use, not the actual rate.

And they think it will stay high for the next three years!

Ah, estimates….! Here’s a chart-like overview of what they prattle about in the next paragraph:

.          Estimated GDP for 2011:

.                A Year ago:             3.1% growth

.                Back in August:     2.3 % growth

.                Now…?                      1.6% growth….. you call that growth?!?!?

So, while the deficit has stayed at triple its previous high – for three years running! – GDP – the Wealth of our country – crawls.

Next year’s estimate? From 2.7%, revised already, downward to 2%. And the year has barely begun.

Four. More. Years…..?!

Update: it seems teh Bo has already solved one problem for us….!!!    : )

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