Odd Budget Math Part 2

Last week the Administration happily touted the $17 billion in budget "savings" it had found by going "line by line" through the massive bill.   This prompted me to write about how the $17 billion is actually just 0.5% of the total budget, and how can you argue about 'savings' when the budget is up more than 14% from the previous spending plan.

Some people wrote in saying "setttle down Sullivan, at least $17 billion is real money."

True ... but apparently that's all going away today anyway.

From the Wall Street Journal:

The federal budget deficit will widen to a record $1.841 trillion this fiscal year, $89 billion wider than previously expected, because of the weak economy and expensive financial rescue, the White House said Monday.

The Obama administration expects the deficit to be $1.258 trillion in fiscal 2010, which begins in October. In its February budget overview, the White House predicted a $1.752 trillion budget gap in 2009 and a $1.171 trillion deficit next year.

Whoops.  That was a quick extra $89 billion to the deficit.    My poor math skills tell even me that $89 billion more in deficits pretty much erases the $17 billion in 'savings' and leaves - oh - about $72 billion more to our bill.

Odd that there haven't been many White House press conferences about this today ... given how many there were last week about the 'savings.'