Budget Projects $1.75 Trillion Deficit

WASHINGTON (AP) - President Barack Obama is projecting that the
government's deficit for this year will soar to $1.75 trillion. The
red ink reflects what Obama wants to borrow from future generations
to help pull the nation out of a deep recession and a severe
financial crisis.
An administration official tells The Associated Press that
Obama's spending blueprint also asks Congress to raise taxes on the
wealthy in 2011 and cut Medicare costs to provide health care for
the uninsured. The president also wants Congress to extend beyond
next year the $400 annual tax cut due to start showing up in
workers' paychecks in April.
His budget says cutting subsidies to wealthy farms and raising
taxes on hedge fund managers and other upper-income Americans can
help reduce the deficit to $533 billion by 2013.

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  • by j j Location: ky on Mar 2, 2009 at 04:47 AM
    zatoichi i work for a living, but a lot of people can't because the republicans has put them out of work.look at how bush left us.zat you hate every one that don't agre with you,i wish obama well because i love my country,you can call me names all you want to.i voted for bush the first time,but i sure as [edited] did not the last time.so keep on doing what you do best calling people names that don't agre with you.
  • by Zatoichi Location: Richmond on Mar 1, 2009 at 11:25 AM
    Historically all recessions and depressions resolve themselves into crises of confidence. The instant, global, 24/7 communications of today make them ever more so. The Obama, in his pursuit of liberal big-government spending, has totally neglected the role of the president of the United States in reversing global panic. To the contrary, his every remark and the constant preoccupation of his Cabinet is to heighten the sense of crisis and to escalate the predictions of doom if we do not do as they tell us and raise spending now and taxes later. Instead of being a firewall, reassuring Main Street even as Wall Street crashed, he has become a conduit of panic, spreading the mood of desperation from the stock exchange floor to kitchen tables across the world. This is all deliberate on Obama's part, because his agenda of collectivism and socialism calls for chaos. With chaos Obama and his welfare state adherents will force more and more people into a dependency on the government.
  • by Zatoichi Location: Richmond on Feb 28, 2009 at 09:47 AM
    jj, once again you can not understand the information I provide you. I hope the Obama agenda fails for if it does America survives the collectivist rot that he is trying to implement. If you prefer the government to feed, cloth, house and take your pulse then that is the Cuba or Venezuela or old CCCP you are looking for not the America that was built on premise that any man can make it if he tries hard enuff. You, my friend, prefer not to try.
  • by Diane Location: Mt.Sterling on Feb 28, 2009 at 07:46 AM
    Joan, I don't know where you get your information but Bush did not have a surpluss when he entered office. And, he entered office during a recession. Not a huge recession but a recession non the less.
  • by j j Location: ky on Feb 27, 2009 at 05:56 AM
    ok zatoichi you proved you don't care nothing about your country, you said you hope obama fails.if he fails our country fails.i would never say that about a president.
  • by Joan on Feb 26, 2009 at 12:53 PM
    Bush and the republicans sure left this country high and dry, remember Bush entered office with a surplus.
  • by Zatoichi Location: Richmond on Feb 26, 2009 at 11:08 AM
    From tax increases to new regulations on job providers, there are many "changes" Barack Hussein Obama hopes to impose early in his Presidency. But at the very top of his list are measures to vastly increase the money and forced-dues power of the hard left Big Labor Bosses. Why? Because Obama knows that pushing his far left agenda will be far easier with the money and manpower of Big Labor on his side. And because, quite frankly, as he himself said in his political memoir, "The Audacity of Hope,". Obama said "I owe those unions... When their leaders call, I do my best to call them back right away. I don't mind feeling obligated."
  • by Zatoichi Location: Richmond on Feb 26, 2009 at 10:51 AM
  • by Zatoichi Location: Richmond on Feb 26, 2009 at 10:37 AM
    From Lenin to Mao to Castro to Obama. The Marxist/Socialist bible of redistributionist politics never changes. Only the faces and dreams of Obama's victims change. Obama's tax dollars represent far more than the number attached to them in the media. They represent broken dreams, small businesses never started, employees never hired, medical cures never researched, and the secret hopes and dreams of the world's tired, poor, huddled masses yearning to breathe free. All carried away by the taxman, dressed in a Barney Frank, Chuck Schumer or Nancy Pelosi Halloween costume or an Obama mask. Obama knows better than you how to spend your money. Give it to Obama, so that he can redistribute it upon the thriftless, dependent, non-achievers and those yearning for a free ride. Obama intends to make a great army out of them with his ACORN cronies.


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