TIGHTEN YOUR BELTSOuch!http://tpmdc.talkingpointsmemo.com/2011/06/cbo-director-on-the-economy-great-deal-of-pain-ahead.phpCBO director Doug Elmendorf offered reporters a sneak preview of his agency's forthcoming economic forecast Tuesday, at a breakfast roundtable hosted by the Christian Science Monitor. It's bad news for most Americans -- and bad political news for President Obama."A great deal