April 24, 2014
When it comes to managing the deficit, President Obama’s 2015 budget relies heavily on hope. That’s the takeaway from a new analysis by the nonpartisan Congressional Budget Office.
The administration makes quite a few convenient and overly-rosy assumptions about our struggling economy. This leads to wildly differing projections about future deficits.
The chart above shows the gaping differences between the CBO’s projections and Obama’s. But even under the White House’s scenario, the deficit will never be less than $400 billion, and the budget will never be close to balanced.
Whose projections do you believe?