The Crisis: A New, Very Scary Chart From Casey

I quoted Bud Conrad of Casey in a previous posting, citing his claim for a $3 trillion surplus. He now has a new graphic for it. We are screwed.

January 14, 2009

The Congressional Budget Office (CBO) has set the fiscal 2009 baseline budget deficit at $1.2 trillion in a recent report that only accounts for expenditures already legislated. Include Obama’s stimulus package, the full cost of the TARP program, and whatever else the new administration and Congress are plotting, and the deficit easily exceeds $2 trillion.