Gipper
Well-Known Member
How about this? And all that talk about cutting spending from BO was just that, talk. Yet, some believed.
The Great Glenn Beck is reporting BO's huge deficit promoting budget includes revenue from Cap & Trade, which just so happens has not been passed and which the American people are overwhelming against.
The Great Glenn Beck is reporting BO's huge deficit promoting budget includes revenue from Cap & Trade, which just so happens has not been passed and which the American people are overwhelming against.
WASHINGTON (Reuters) - The White House will predict a record budget deficit in the current fiscal year and more big shortfalls for the next decade in its upcoming budget proposal, a congressional source told Reuters on Sunday.
In its budget proposal to be released on Monday, the White House predicts a record $1.6 trillion budget deficit for the fiscal year that ends September 30, the Capitol Hill source said.
According to the estimate, deficits will narrow to $700 billion by fiscal 2013 before gradually rising back to $1.0 trillion by the end of the decade, the source said.
President Barack Obama will seek to strike a balance between reducing the deficit over the long term and stimulating the economy in the short term to ease the pain of double-digit unemployment.
Criticized by Republicans as a big spender, Obama used his State of the Union address last week to tell Americans he would dig the country out of a "massive fiscal hole."
http://www.reuters.com/article/idUSTRE60U1PZ20100131