Monday, February 14, 2011

2011 Budget Released

This morning the White House released the 2011 budget as well as budget projections through 2015.

My confusion comes from the revenue projections as the White House has the decency to not even pretend they will try to cut spending.

Question:  Mr. Obama, how do you plan to raise revenue from $2.174 trillion in 2011 to $3.003 trillion in two years in the face of a collapsing economy with no tax increases?

Answer:  Next question please.

2011 projected revenue: $2.174 Trillion
2011 projected spending: ($3.819 Trillion)
2011 projected deficit: ($1.645 Trillion)

2012 projected revenue: $2.627 Trillion
2012 projected spending: ($3.729 Trillion)
2012 projected deficit: ($1.101 Trillion)

2013 projected revenue: $3.003 Trillion
2013 projected spending: ($3.771 Trillion)
2013 projected deficit: ($768 Billion)

2014 projected revenue: $3.333 Trillion
2014 projected spending ($3.977 Trillion)
2014 projected deficit: ($645 Billion)

2015 projected revenue: $3.583 Trillion
2015 projected spending: ($4.190 Trillion)
2015 projected deficit: ($607 Billion)

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