Budget Office predicts $1.2T deficit

by thoughtfulconservative

From David Rogers at Politico.com

The Congressional Budget Office released a grim forecast Wednesday for the coming year that projects a federal deficit of almost $1.2 trillion in 2009 as revenues fall off and housing prices continue to decline even as unemployment rises.

The jobless rate will exceed 9% early in 2010, CBO says, and even then the recovery will be sluggish with GDP growing by only 1.5% — not enough to match the 2.2% contraction this year.

Which, naturally, will be blamed on Bush and the failed Republican policies.

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