Barry's rosy deficit projection hit a snag and has been bumped up another 89 billion dollars. Worse than expected numbers have come it with food stamps, and unemployment have driven up the deficit. I guess with the 2 stimulus packages already enacted, haven't had much impact with the numbers. With the first emergency....dire straits crisis stimulus package that had to be passed in just days last September, we would have seen some benefits from it by now. Then another stimulus bill was shoved down our throats. IMHO....I really don't have any faith in the stimulus packages, and we're going to pay for it dearly.
WASHINGTON With the economy performing worse than hoped, revised White House figures point to deepening budget deficits, with the government borrowing almost 50 cents for every dollar it spends this year.
The deficit for the current budget year will rise by $89 billion to above $1.8 trillion about four times the record set just last year. The unprecedented red ink flows from the deep recession, the Wall Street bailout, the cost of President Barack Obamas economic stimulus bill, as well as a structural imbalance between what the government spends and what it takes in.
As the economy performs worse than expected, the deficit for the 2010 budget year beginning in October will worsen by $87 billion to $1.3 trillion, the White House says. The deterioration reflects lower tax revenues and higher costs for bank failures, unemployment benefits and food stamps
White House: Budget deficit to top $1.8 trillion - BostonHerald.com
White House forecasts higher budget deficit
WASHINGTON With the economy performing worse than hoped, revised White House figures point to deepening budget deficits, with the government borrowing almost 50 cents for every dollar it spends this year.
The deficit for the current budget year will rise by $89 billion to above $1.8 trillion about four times the record set just last year. The unprecedented red ink flows from the deep recession, the Wall Street bailout, the cost of President Barack Obamas economic stimulus bill, as well as a structural imbalance between what the government spends and what it takes in.
As the economy performs worse than expected, the deficit for the 2010 budget year beginning in October will worsen by $87 billion to $1.3 trillion, the White House says. The deterioration reflects lower tax revenues and higher costs for bank failures, unemployment benefits and food stamps
White House: Budget deficit to top $1.8 trillion - BostonHerald.com
White House forecasts higher budget deficit