Budget deficit to top $1.8 trillion

Discussion in 'Politics & Religion' started by drjekyllus, May 11, 2009.

  1. http://news.yahoo.com/s/ap/us_obama_budget


    "The deficit for the current budget year will rise by $89 billion to above $1.8 trillion — about four times the record set just last year. The unprecedented red ink flows from the deep recession, the Wall St. bailout, the cost of President Barack Obama's economic stimulus bill, as well as a structural imbalance between what the government spends and what it takes in."



    How is Obama going to blame Bush for this one?
     
  2. Lucrum

    Lucrum

    Oh he will, and his sheeple will believe it.
     
  3. Blaming is not important; as most of the spending is mandated such as SSN, medicare, medicaid, benefits to vetrans, debt service. When you add all them up, it totals about the same as all govt revenue, leaving defense, farm payments, welfare,etc to come out of the deficit.


    The problem is neither party is willing to address the real problems.

    Basically the choices are no govt beyond the non discretionary part (SSN, Medicare, etc) , big deficits or higher taxes. Clearly, both parties have chosen deficits, Bush and the Reps. before and the Dems now and both should be thrown out IMO.


    Seneca
     
  4. "High U.S. budget deficits not Obama's fault-Orszag
    Mon May 11, 2009

    WASHINGTON, May 11 (Reuters) - High U.S. budget deficits are being driven by an economic crisis that President Barack Obama inherited, White House Budget Director Peter Orszag said on Monday."