Wednesday, January 26, 2011

2012 Deficit to be $1.1 trillion

Now the CBO is projecting that the 2012 deficit will be $1.1 trillion but the 2013 deficit will be much lower (only $700 billion). So we will still spend like drunken sailors until Sept. 30, 2012, but starting Oct. 1, 2012 we will try to sober up.

Just a few months ago I commented that the CBO had projected that starting October 1, 2011 the spending would start to be reined in. Looks like they need another year. Lord, give me chastity but not yet! Any guesses as to whether when the 2012 date approaches they will extend it again?

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