CBO low balls the upcoming debt expansion

Under the President’s proposals, the federal budget deficit would total $1.2 trillion in 2012 and smaller amounts in later years, averaging 4.8 percent of gross domestic product (GDP) over the 2012–2021 period.

Just make that $1.6 trillion to cover the legally hidden agenda of the CBO and the war in Libya. In QEs that comes to an additional two, I believe.

A Dick Lugar spokesperson:

"Before any American military assets are used, Senator Lugar wants Congress to have a full briefing on the planned use of American military personnel and equipment, and how it will be paid for," Lugar’s spokesman Mark Helmke said Thursday. "This is an issue that requires full public debate under the Constitution."

I can help the Senator out here. We are going to pay for the war by having, as Krugman puts it, the Fed credit the account of Senator Lierbman in the Senate. The credit eventually arrives as a liability on the doorsteps of California citizens who pay a 25% federal tax premium and have 1/20 the Senate representation as citizens of Connecticut have.