July 20, 2009

Our booming economy - The Budget

Telling news - from My Way/Associated Press:
White House putting off release of budget update
The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today's bleak landscape.

The administration's annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Barack Obama's budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.

The release of the update - usually scheduled for mid-July - has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town on its August 7 summer recess.

The administration is pressing for votes before then on its $1 trillion health care initiative, which lawmakers are arguing over how to finance.
Counting down the days until 2010 -- time to throw the bums out... Posted by DaveH at July 20, 2009 7:20 PM | TrackBack