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Obama's $3.8 trillion budget heading to Congress

WASHINGTON – President Barack Obama's proposed budget predicts the national deficit will crest at a record-breaking almost $1.6 trillion in the current fiscal year, then start to recede in 2011 to just below $1.3 trillion.

Still, the administration's new budget to be released Monday says deficits over the next decade will average 4.5 percent of the size of the economy, a level that economists say is dangerously high if not addressed.

A congressional official provided the information, which comes from a White House summary document circulating freely on Capitol Hill and among Washington's lobbyists. The official spoke on condition of anonymity because the spending proposal is not supposed to be made public until tomorrow.

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...and money from the

...and money from the government's bailout fund to get banks to increase loans to struggling small businesses.

They still paying banks not to loan?

What low inflation?

"The budget will also propose $250 payments to Social Security recipients to bolster their finances in a year when they are not receiving the normal cost-of-living boost to their benefit checks because of low inflation. Obama will also seek a $25 billion increase in payments to help recession-battered states."


maybe (hopefully?) we can vote someone new in


meekandmild's picture


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