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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on January 07, 2009, 07:39:48 AM

Title: U.S. projects record $1.2 trillion deficit
Post by: Bindare_Dundat on January 07, 2009, 07:39:48 AM

Housing collapse and financial turmoil leads to steep rise in estimated budget shortfall for '09, congressional office says.

NEW YORK (CNNMoney.com) -- The U.S. budget deficit in 2009 is projected to spike to a record $1.2 trillion, or 8.3% of gross domestic product, the Congressional Budget Office said Wednesday.

The dramatic jump compares to a $455 billion deficit in fiscal year 2008 and $161 billion in 2007. The estimate does not account for the massive spending and tax cuts proposed in President-elect Barack Obama's economic rescue plan.
 :o

The federal government has tried to combat the crisis by so far committing $7.2 trillion in investments and loans primarily to financial institutions.

Title: Re: U.S. projects record $1.2 trillion deficit
Post by: 240 is Back on January 07, 2009, 08:20:48 AM

I blame Clinton.  None of this is Bush's fault.

Title: Re: U.S. projects record $1.2 trillion deficit
Post by: Soul Crusher on January 07, 2009, 08:34:19 AM

Quote from: 240 is Back on January 07, 2009, 08:20:48 AM

I blame Clinton.  None of this is Bush's fault.

It is a mindset that is the problem.  You are like Jekly & Hyde.  how can u possibly like Ron Paul and Obama at the same time when the two are polar opposites?