>CBO: Exploding debt under Obama policies
By DAVID ROGERS | 3/16/12 11:29 AM EDT Updated: 3/17/12 11:35 AM EDT
The Congressional Budget Office said Friday that President Barack Obama’s tax and spending policies will yield $6.4 trillion in deficits over the next decade, more than double the shortfall in CBO’s own fiscal baseline — even after taking credit for reduced war costs.
House Republicans, slated to unveil their own plan next week, are sure to seize on the numbers, yet the mountain of data gives reason for both parties to pause going into what’s expected to be a major fiscal crisis after the November elections.
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