How 'Bout Those Rosy Projections Now?

Back when Obama first presented his budget, it was easily shown that it was based on the rosiest of rosy projections, but even then his historically unprecedented spending will trigger mammoth deficits as far as the eye can see.  Unfortunately, reality will slap Rosy around hard when the rubber meets the road (go here to review, if you don't recall the details).  Well, guess what?

Things just got worse:

Thanks Barack. Thanks Dems.
The economy shrunk at a worse than expected pace in the first quarter.
Yahoo Finance reported, via Drudge:

The economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in U.S. exports in 40 years overwhelmed a rebound in consumer spending.

The Commerce Department's report, released Wednesday, dashed hopes that the recession's grip on the country loosened in the first quarter. Economists surveyed by Thomson Reuters expected a 5 percent annualized decline.

Instead, the economy ended up performing nearly as bad as it had in the final three months of last year when it logged the worst slide in a quarter-century, contracting at a 6.3 percent pace. Nervous consumers played a prominent role in that dismal showing as they ratcheted back spending in the face of rising unemployment, falling home values and shrinking nest eggs.

Maybe we can't spend our way to prosperity after all?

So, if Rosy is already way, way off, the overall long-term picture is going to get exponentially worse as time goes on.  How's that for hope-n-change?

There's my two cents.