OK, so the Republican held congress along with Blue-dog Democrats have pledged to cut $100 billion from the 2011 budget. What dollar amount (range) do you believe this $100 billion will ultimately be?
Hint #1 The proposed 2011 budget is $3.8 trillion
Hint #2: Obama's Deficit Review Committee formulated a plan to cut $425 billion from the Federal deficit(s) over the next five years. In order to get the plan in front of congress, the committee needed 14 of the 18 votes. The plan was voted down by the committee by four votes.
Hint #3: The dollar is projected to be very strong over 2011 due to expected extremely weak euro, yen and pound-sterling. Generally resulting in more imports and higher trade deficits.
Hint #4: China in not expected to allow their current to appreciate. The Chinese cite that current trade deficit as an "American Problem" (China is the #1 holder of US debt)
Hint #5: Oil is near $100/barrel and expected to get higher. Adding to US deficits from oil producing nations (Saudi Arabia is the #3 holder of US debt)
Hint #1 The proposed 2011 budget is $3.8 trillion
Hint #2: Obama's Deficit Review Committee formulated a plan to cut $425 billion from the Federal deficit(s) over the next five years. In order to get the plan in front of congress, the committee needed 14 of the 18 votes. The plan was voted down by the committee by four votes.
Hint #3: The dollar is projected to be very strong over 2011 due to expected extremely weak euro, yen and pound-sterling. Generally resulting in more imports and higher trade deficits.
Hint #4: China in not expected to allow their current to appreciate. The Chinese cite that current trade deficit as an "American Problem" (China is the #1 holder of US debt)
Hint #5: Oil is near $100/barrel and expected to get higher. Adding to US deficits from oil producing nations (Saudi Arabia is the #3 holder of US debt)
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