http://bit.ly/bjYhPu - - - WASHINGTON (Reuters) - The White House predicts that the United States will post a record $1.6 trillion budget deficit in the current fiscal year, a congressional source told Reuters on Sunday.
In its budget proposal to be released on Monday, the White House predicts that deficits will fall to $700 billion by fiscal 2013 before gradually rising back to $1.0 trillion by the end of the decade, the Capitol Hill source said. - - - For the record, that's 4x the largest one year annual deficit under Bush and the Republicans. (Recall, the last two years of Bush, the Democrats controlled Congress.) For the record, according to the CBO, annual deficits under Republicans from 2001 - end of 2007 averaged $108 billion annually. That included the wars and the (IMHO disastrous) prescription drug entitlement. Democrats took Control of Congress, and therefore the purse strings, in 2007. The Democrats, especially under Obama, have eclipsed that average by more than an order of magnitude. Almost two. In 2009 his excuse was "The Dubya made me do it." That excuse is wearing mighty thin. I grant that Bush was a fiscal disaster. Words fail me to describe Obama's fiscally. - Publius -- "It ought never to be forgotten, that a firm union of this country, under an efficient government, will probably be an increasing object of jealousy to more than one nation of Europe; and that enterprises to subvert it will sometimes originate in the intrigues of foreign powers, and will seldom fail to be patronized and abetted by some of them. Its preservation, therefore ought in no case that can be avoided, to be committed to the guardianship of any but those whose situation will uniformly beget an immediate interest in the faithful and vigilant performance of the trust." [Federalist Papers #59] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
