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7 Questions on the Budget for President Obama

7 Questions on the Budget for President Obama

MARCH 23, 2009
  • The White House predicts 7.9% unemployment in 2010. The Congressional Budget Office (CBO) predicts 9.2% unemployment in 2010. Where are the jobs you promised?
  • CBO predicts deficits nearing $1 trillion per year over the next decade.  What happens if China stops buying our debt and what impact will these deficits have on our economy?
  • If American families need to make tough decisions to cut their spending, why does your Administration spend taxpayer dollars at record levels?
  • The Administration raises revenue for increased spending through a series of new taxes, including a light switch tax that would cost every American household $3,128 a year.  What effect will this have on Americans struggling to pay their mortgages?
  • Even with the disingenuous assumptions in your budget it still does not come close to balancing the budget.  How do you explain this?
  • CBO predicts that the President's budget will produce $9.2 trillion worth of red ink over 2010-2019.  That is more debt that we have incurred in the history of the United States and is $2.3 trillion worse than the White House predicted in the budget. Can you explain this discrepancy?
  • CBO estimates GDP will fall by 1.5% in 2009 before growing again by 4.1% in 2010 and 2011.  GDP in the fourth quarter of 2008 was -6.2%.  What happens to your long-term deficit estimates if we do not realize your short-term growth estimates?