Posted on 08/19/2009 6:20:59 PM PDT by Nachum
WASHINGTON — The White House plans to announce the federal deficit is about $262 billion less than officials predicted earlier this year — in part because the administration has provided less aid than expected to Wall Street.
The federal deficit this year will total $1.58 trillion, a senior White House official said late Wednesday. That's three times more red ink than last year. The official spoke on the condition of anonymity to discuss the report before its release next Tuesday while President Barack Obama will be on vacation in Massachusetts.
(Excerpt) Read more at chron.com ...
The list, ping
Bush was an absolute penny pincher compared to this.
OK! I’m so relieved it s ‘only’ $1.58 trillion......
The same Democrats who were outraged at Bush era deficits in the hundreds of billions of dollars are silent about Obama trillion dollar plus deficits.
Only Republican deficits are bad, apparently.
Does Obama have any plans for how to balance the budget?
Does he have any ideas of what to do about Social Security and Medicare going broke? Geez with healthcare, he would earn some good will if he were able to solve the long term Medicare financing problems. But even his own projections show deficits as far as the eye can see, even after we save all the projected money under Obamacare.
Heck he might have earned so much good will if he had been able to put Medicare on a solid financial footing, that it would have greased the skids to get Obamacare passed eventually.
And now Obama declares that healthcare “reform” is a moral issue. Okay, so now debate must be shut down, because it’s a “moral issue”. If something is a “moral issue”, then liberals act like you can’t question the cost or scope of such plans, because to do so would be “immoral”.
And we need to show compassion to the poor don’t we? (sarcasm).
Cut the pay in Congress and the White House.....including support for the First Lady’s staff of 26. Do this until everything is paid off. They did it, they can pay for it.
The headline tomorrow won’t be “Obama plans biggest government fiscal deficit in the history of earth!”, it’ll be “Obama cuts projected deficit by 300 billion!”.
I wonder if health care is going to cover my starvation because I wont have any retirement left. SS will be gone, my 401(k) is down about 40% from last year, and my business is down about 20% over last year.
This is great.
If the Republicans run on a platform of reducing government spending...they will win in 2010 and beyond.
Instead of $1.84 trillion, the deficit will total $1.58 trillion. I suppose a little good news is welcome, but this doesn’t give me much comfort.
The things these idiots are doing are the same things the new deal did, except, in spades. The similarity between FDR and ZerO is astonishing, polished speaker, but, abject stupidity on economics. They both blame capitalism and business.
The only hope for change is that the country will tire of this swill in two years rather than four. The new deal my have ended in 36 if the Republicans had had a decent candidate. As it was it was the war that allocated resources different from the new dealers and lead to the post was resurgence. The new deal was a detriment to recovery and this one will be too.
Yup ... sorta like hearing they've reduced the number of loaded guns in your firing squad to 16 from 18.
FDR had far greater qualifications than Obama does, in all manner of ways. And though he was spectacularly wrong, FDR at least had the excuse of this stuff never having been tried before. And for all his faults, he was absolutely correct on matters of national security.
Obama's got none of that. He's just a narcissist amateur whose thinking hasn't evolved from the earnest vapidity of your typical idealistic 19 year old.
Bump to your post.
We’z all gonna be po!!!!
yet our idiot leaders think they can spend their way to prosperity ....
amazing how stupid these people are with our money.
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