Sen. Bill Nelson on Obama Budget: We Need to Rework This Whole Thing

Sen. Bill Nelson, a member of the Senate Budget Committee, said the Obama budget will have to be revised in light of the latest Congressional Budget Office projections.

The Florida Democrat said in an interview on Fox News Channel this morning that “we’re going to have to go back and rework this whole thing, and that’s going to be done this week in the Budget Committee.” He later added that “Kent Conrad, our chairman of the Budget Committee, is definitely going to have to be Merlin.” CBO numbers released Friday show federal deficits over the next decade will exceed President Barack Obama’s projections by $2.3 trillion.