The Congressional Budget Office has revised its numbers on the 2009 budget deficit and, well, let’s just say that we’re in deeper trouble than we thought. How much deeper? 50%.

The director of the Congressional Budget Office today updated his projections for the budget and economic outlook and is now anticipating a $1.8 trillion deficit this year, and $1.4 trillion in 2010.

This is up from CBO director Douglas W. Elmendorf’s January 2009 projection of a $1.2 trillion deficit this year. In short, the US government is borrowing 50 cents for every dollar it spends.

The new projected deficit is four times the 2008 deficit, which was a record high for its time.

Yes, and was a talking point for the left about how George Bush was driving this nation further into a debt that our children would still be paying off. Suddenly massive budget deficits and national debts are just dandy under a Democratic president. Funny that.

Why the sudden and massive revision? CBO director Douglas Elmendorf blames the “enactment of recent legislation”. In other words, the porkulus and omnibus spending bill that opponents warned would spike the deficit and put the nation much further into debt. And what did we get in return? Absolutely no job growth in 2009. Clearly a well thought out plan.

Exit question: Didn’t President Obama run on cutting the deficit and massive spending that apparently made Bush the devil? And yet here we are.