Certainly those are shocking numbers. Are those your estimates? You can see from the table that the drop in GDP in the first quarter of 2009 you're projecting is at least three times bigger than what the budget projected, so three times worse than the budget not very long ago. Are those enormous drops in GDP your estimates, or are they the private sector consensus, or some blend of the two?
On March 25th, 2009. See this statement in context.