Fiddler of the Aloof

National debt to be higher than White House forecast, CBO says

President Obama's proposed budget would add more than $9.7 trillion to the national debt over the next decade, congressional budget analysts said Friday. Proposed tax cuts for the middle class account for nearly a third of that shortfall.

The 10-year outlook released by the nonpartisan Congressional Budget Office is somewhat gloomier than White House projections, which found that Obama's budget request would produce deficits that would add about $8.5 trillion to the national debt by 2020.

Congressional estimates show grim deficit picture

WASHINGTON – A new congressional report released Friday says the United States' long-term fiscal woes are even worse than predicted by President Barack Obama's grim budget submission last month.

The nonpartisan Congressional Budget Office predicts that Obama's budget plans would generate deficits over the upcoming decade that would total $9.8 trillion. That's $1.2 trillion more than predicted by the administration.

How much longer before America awakens "to" this nightmare?

Positive Jobs Report Doesn't Ease Worries of a 'Double Dip'

Even as the jobless rate held steady at 9.7 percent and the 36,000 workers laid off in February was much less than expected, economists and investment analysts said it's still too early to discount the economy's chances of revisiting recession.

"Eight months into the much-touted recovery, the economy should be adding jobs not just losing jobs at a slower pace," University of Maryland economist Peter Morici wrote in an analysis.

"No study of economic history could yield a conclusion other than that the US economy (walks) along the precipice of a double dip recession."

Many people like to use the analogy of placing a frog in cool water and then watching it sit there as the pot is slowly brought to the boil. Personally, I feel that it is far more dire than that. America is sitting and watching the body of the nation being consumed daily and yet they act as if they are oblivious to the reality. That is nothing short of the herd mentality.

All eyes still seem to rest on Washington for answers, as opposed to accepting the reality that Washington is the problem and Washington is what has caused the problems. Both democrats and republicans are responsible for the dire realities of this nation's economic demise today. And both parties share equal responsibility for allowing it to continue.

The dire economic signs are out there daily for those willing to see them and open their eyes to what is being reported. Or as some would say, the writing is on the wall. But where is our champion? Where is our Daniel? Where is our leader capable of grabbing the American people by their collective necks and forcing them to look at and see the realities that America is precipitously close to utter collapse.

Meanwhile, our great leader Obama continues to fiddle while the puppets Pelosi and Reid dance.