The sky is no limit as drunlken-sailor Obama’s spending drowns the country in red ink.
Obama Deficit Heads Upward Again
The nonpartisan Congressional Budget Office (CBO) just revealed that this year’s federal budget deficit will rise to $590 billion, a depressing 35% increase over last year’s already-high $438 billion:
CBO now estimates that the 2016 deficit will total $590 billion, or 3.2 percent of GDP, exceeding last year’s deficit by $152 billion… The deficit is growing in 2016 because revenues are up only slightly, by less than 1 percent ($26 billion), whereas outlays are projected to rise by 5 percent ($178 billion).
As Barack Obama staggers toward the end of his failed presidency, that marks just the latest milestone in what is perhaps his worst legacy, one that remains grotesquely underreported by the “watchdog” mainstream media. Namely, he possesses what is by far the worst deficit record in U.S. history.
Source: Obama Deficit Heads Upward Again