White House putting off release of budget update
"WASHINGTON (AP) - The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today's bleak landscape.
"The administration's annual midsummer budget update is sure to show higher deficits and unemployment and slower growth than projected in President Barack Obama's budget in February and update in May, and that could complicate his efforts to get his signature health care and global-warming proposals through Congress.
"The release of the update - usually scheduled for mid-July - has been put off until the middle of next month, giving rise to speculation the White House is delaying the bad news at least until Congress leaves town on its August 7 summer recess."
Meanwhile, that gleaming jewel of stupidity, Joe Biden, had this to say:
Joe Biden: ‘We Have to Go Spend Money to Keep From Going Bankrupt’
Beautiful. Just beautiful.
It's like handing a high-school kid a fist full of credit cards. Now all the cards are maxed out and the kids are throwing a mad fit because the parents won't give them more.
It doesn't matter how much you want something, you can't keep spending money you don't have. Eventually reality catches up with you and bites you on the ass.