Posted by
Gabrielle Cusumano on Saturday, August 22, 2009 3:57:42 PM
"Record-breaking deficits have raised concerns about America's ability to finance its debt and whether the United States can maintain its top-tier AAA credit rating." (Go to link and read article for this quote.
Obama to raise 10-year deficit to $9 trillion
WASHINGTON (Reuters) - The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.
The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama's opponents, who say his spending plans are too expensive in light of budget shortfalls.
Miguel Diocuore writes:
The Fed has to go...
If the Fed did not exist, the deficits would be much, much lower
Miguel