Deficit's down while spending's up? Not buying it...

The good news is that we might have an Obama deficit under $1 trillion dollars this year ($845 billion). Of course, that all depends. Ed Morrissey fills us in...

Those figures assume that Congress will not pass any more “doc fixes” and cut Medicare/Medicaid reimbursements substantially, as current law requires. If Congress passes more delays in already-scheduled cuts in reimbursements, those deficits will grow significantly.

...deficits will rise steadily from mid-decade, nearing $1 trillion again by 2023, according to the forecast. The 10-year cumulative deficit is forecast at $6.958 trillion.

And there lies the bad news. Oh, not to mention the CBO's most recent estimated cost of Obamacare, which is now to the tune of $1.3T over the next decade. Combine that with the rest of entitlement spending, and that will account for over half (53%) of all federal spending. Reality:

"Over the next decade, we are going to spend $31.6 trillion in the entitlements and Obamacare. Over the same ten years, the government will collect only $2.6 trillion dollars in dedicated revenue for that spending. We're gonna spend $31.6 trillion and collect $2.6 trillion to pay for it. That, right there, is a $29 trillion deficit just over the next ten years.

And, of course, we're not threw spending. This administration's nowhere near wrapping it up on spending."

And the kicker: 7 Million people will lose their insurance.

President Obama's health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released Tuesday.

CBO said that this year's tax cuts have changed the incentives for businesses and made it less attractive to pay for insurance, meaning fewer will decide to do so. Instead, they'll choose to pay a penalty to the government, totaling $13 billion in higher fees over the next decade.

Oh yeah, and then there's the sequester...



See, there's no real cutting or budgeting here. This out-of-control government will keep spending, whether that be $44.8T without the sequester over the next decade or $43.7T with it.

And I'm supposed to believe that by the end of this year, that deficit prediction will still be accurate? Sorry, not buying it.