Obama Plans To Halve Deficit

[Денг Гордон]

WASHINGTON (CNN) -- President Obama will seek to cut the federal deficit in half by the end of his first term, according to an administration official.

Most of the savings would come from spending less on the war in Iraq, raising taxes on those who make more than $250,000 a year and streamlining government, the official told CNN.

The president's budget proposal for fiscal year 2010 projects that the estimated $1.3 trillion deficit he inherited from the Bush administration will be halved to $533 billion by 2013, or from 9.2 percent of the gross domestic product to 3 percent, the official said.

http://www.cnn.com/2009/POLITICS/02/21/obama.deficit/index.html

That would be amazing if he is able to pull this off.

 

[Denny Crane]

Stimulus package was $800B, the bank bailout was $750B. That's $1.55B on top of the structural ~$400B deficit Bush actually left.

Tax and spend! And lie about it.

 

[Big Frame]

The National Debt is a joke, The US goverment is ran just like a company. (Albiet this is a really bad example in today's time) We are making more then enough money. We are fine people.

 

[Shapecity]

No chance. They have no idea what the true numbers are for the amount of losses we are going to continue seeing. They are working on data at least 6 months old and have been lied to multiple times (knowingly or unknowlingly) by the banks.

 

[RipCity]

http://www.cnn.com/2009/POLITICS/02/21/obama.deficit/index.html

That would be amazing if he is able to pull this off.

Hahahahahahahahahaha


This is fuckin amazing. He's already spent 800 billion dollars with no plans to ease up on the spending, and now he's going to cut the defecit in half?

I guess Obama already set the precedent for lieing to the American people during the election.

 

[Denny Crane]

I hear the Dems are lining up another $400B spending bill.

 

[MikeDC]

http://www.cnn.com/2009/POLITICS/02/21/obama.deficit/index.html

That would be amazing if he is able to pull this off.

It'd also be amazing if he were to perform an act of auto-fellatio at next year's State of the Union address. Incidentally, I find this to be somewhat more likely than Obama achieving his stated budget goals.

 

[Bahir]

A key (or the key) method of getting out of a recession is for government to increase spending. The spendings should be investments for the future; projects that will increase productive capacities and lead to higher employment. This in combination with tax cuts to increase consumer spending. All-in-all, the government is recommended to increase its deficits during a recession, if it is done right. Efforts should go to creating a better habitat for businesses and investors, which will carry on to consumers.