`` President Obama’s budget proposals, if carried out, would produce a staggering $9.3 trillion in total deficits over the next decade, much more than the White House has predicted, the Congressional Budget Office said on Friday.
``The office’s estimates of deficits in the fiscal years 2010 through 2019 “exceed those anticipated by the administration by $2.3 trillion,” the budget office said in a report.
``The deficits under the Obama plan would be $4.9 trillion more than the deficits that would be projected if there were no changes in current laws and policies — what the nonpartisan budget office calls its baseline assumption."
The Moral: More Bailouts=more wasteful spending (e.g. AIG), more corruption, more mistakes, more dissatisfaction and growing risks of political upheaval.
