Glad these guys are not running my money

Oh wait damn they are running something else...

Just want to re-visit this post from late FEB i made

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"First the ROSE colored glasses obama's budget and econ team is wearing
[original budget assumptions]
..................
Unemp figures

09 8.1
10 7.9
11 7.1
12 6.0
13 5.2
14 5.0
15 5.0
16 5.0

Per budget estimate

REAL GDP:

2008 1.30
2009 (1.20)
2010 3.20
2011 4.00
2012 4.60
2013 4.20

10 YEAR Treasury
'08 3.7%
09 2.8
10 4.0
11 4.8
12 5.1
13 5.2
14 5.2
15 5.2
16 5.2
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okay so note now we are basically over 8.1...real GDP is way off and only reason they are right "so far" on cost of funds is that ben provided them a sticksave...

so today they come out with this

"WASHINGTON (MarketWatch) -- U.S. economic and federal budget outlook for the next two years is significantly worse than it was two months ago, the nonpartisan Congressional Budget Office said Friday.
The latest forecast shows the economy contracting 1.5% this year, with the unemployment rate rising to 9.4% later in the year. The economy will bounce back next year, growing at a 4.1% pace, in part because of the economic stimulus approved last month and "very aggressive actions by the Federal Reserve and the Treasury" to revive the financial system, the agency said. Read more.
The $787 billion economic stimulus will likely boost gross domestic product by between 1.1 percentage points and 3.4 percentage points, and create between 1.2 million and 3.6 million, the CBO said.
"The current recession, which began in December 2007, took a sudden and severe turn for the worst late last year," the CBO said. The output gap -- the difference between what the economy produces and what it could produce -- will widen an average 7% over the next two years. The output will persist through 2014 despite above-trend growth in 2010 and 2011.
That wide output gap would mean unemployment will stay high and inflation will remain low for years. And it would mean more red ink for the federal government.
The latest baseline forecast [assuming current law] shows a deficit of $1.7 trillion this year, or 11.9% of gross domestic product, and $1.14 trillion in 2010, or 7.9% of GDP.
If President Barack Obama's budget proposals are adopted, the deficit would rise to $1.8 trillion, or 13.1% of GDP, this year and $1.4 trillion, or 9.6% of GDP, in 2010. Over the next 10 years, the president's budget plans would add about $4.8 trillion to the total debt.
White House Budget Director Peter Orszag said the new forecast wouldn't change the administration's budget priorities or tactics. He said the Obama administration still hopes to spend money in the coming years on health care, education clean energy to boost long-term productivity.
Republicans said Obama's budget is unaffordable.
"Our debt will increase to shocking levels that are simply unsustainable and will devastate future economic opportunities for our children and grandchildren," said Sen. Judd Gregg, R-N.H., the leading Republican on the budget committee, who accepted and then backed out of Obama's nomination as commerce secretary"

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seriously if some retard blogger like myself can tell you that their #'s were cooked in the first place, and they were using wildly off base assumptions, what does this say about our fearless leaders...and these are the people we look to to fix this problem, these are the people that run our country...On the other hand they do have quite a legacy to live up to

http://www.urbandictionary.com/define.php?term=Paulson

in the words of GWB

"fool me once shame on you...errr fool me cant get fooled again"