Don’t expect this to actually slow Democrats down. They’ll argue that passing horrid, expensive legislation is better than doing nothing (a false choice, of course). And the deficit will climb…again.

The House financial regulation reform bill that recently passed the Senate would increase the budget deficits by $19.7 billion over the 2011-2020 period if enacted unchanged, according to a cost estimate released Thursday by the Congressional Budget Office.

The bill, passed May 20, has moved to a bicameral conference to be reconciled with the Senate version of the regulation bill. A May 3 estimate released by the non-partisan CBO predicted that the Senate bill would decrease the federal deficit by $19.5 billion over 2011-2020.

Barack Obama, never hesitant to thrust our country further into fiscal disaster, is demanding a resolution by June 24th, so less than two weeks from now. But hey, what’s another $20 billion per year?

Via HAH.