$9 trillion deficit and $20 trillion national debt undermine Obama’s policies

Government forecasts on Tuesday showed that the national debt of the United States will almost double over the following 10 years which poses a serious challenge to the economic and healthcare reform proposed by Barack Obama. According to the White House midsession budget forecast and the non-partisan Congressional Budget Office both forecast government revenues will be crimped by a slow recovery crimped by a slow recovery

The White House projected a cumulative $9 trillion deficit between 2010 and 2019, while the CBO pegged the total at $7.1 trillion because it assumed higher revenues as tax cuts expire. Meantime, the amount of the national debt which is now more than $11 trillion could rise to $20 trillion.

"If anyone had any doubts that this burden on future generations is unsustainable, they're gone," said Senate Republican leader Mitch McConnell, adding that economic stimulus funds should be diverted to pay down U.S. debt.

Yet, the White House and CBO expect the deficit to decline swiftly within the next three years as growth resumes and federal bailout programs shrink.

High deficit was cited by White House budget director Peter Orszag as a reason to pass Obama’s healthcare overhaul plan as Democrats state that it will hinder for some time the rise in healthcare costs.

"I know that there will be some who say this report proves that we cannot afford health reform. I think that has it backward," Orszag told reporters on a conference call.