The White House Budget Office Offers a "Scorecard" on Obamanomics

"Democrats have been running Congress for nearly four years, and President Obama has been at the White House for 18 months, so it's not too soon to ask: How's that working out?  One devastating scorecard came out Friday from the White House, in the form of its own semi-annual budget review."

"The message: Tax revenues are smaller, spending is greater, and the deficits are thus larger than the White House has been saying.  No wonder it dumped the news on the eve of a sweltering mid-July weekend."

"Mr. Obama inherited a recession, so let's give him a pass on the budget numbers for 2009. Clearly the deficit would have been large no matter who was President, even if the David Obey-Nancy Pelosi $862 billion stimulus made it larger than it otherwise would have been. What's striking about the latest budget estimates, however, is that the White House is predicting the numbers won't improve much through 2011, the third year of the President's term, which is still close to 10%.  And keep-in-mind these are estimates, which will probably be a whole lot worse."  (See the following table.)

For the full article, click-on "Wall Street Journal."