CNSNews.com - White House Prediction of $9.05 Trillion in New Federal Debt Is Predicated on Assumption Economy Will Grow Briskly for a Decade

CNSNews.com - White House Prediction of $9.05 Trillion in New Federal Debt Is Predicated on Assumption Economy Will Grow Briskly for a Decade: "(CNSNews.com) – The Obama administration’s updated budget forecasts--which anticipate that the federal government will run up $9.05 trillion in new debt over the next decade--is predicated on the assumption of a robust rate of economic growth during that entire period, claiming that the nation’s Gross Domestic Product (GDP) will grow at an average rate of 2.8 percent between 2009 and 2019.

If the economy does not grow as much or as persistently as the administration predicts federal deficit spending will be even greater than the administration estimates.

The administration predicts that while GDP--a measure of all goods and services produced in the economy--will shrink 2.8 percent this year, it will begin growing again sharply by 2011, reaching 4.3 percent by 2012 before leveling out at around three percent through 2019."