Obama Unveils New Budget Proposal- Read it HereSubmitted by libertybrewcity on Thu, 02/26/2009 - 16:55
Read Budget Proposal: http://www.politico.com/static/PPM106_obama_2010_budget.html
President Barack Obama’s promise of change took on new force Thursday as the White House rolled out a 10-year spending plan that seeks to steer the nation away from today’s staggering deficits but risks new fights over taxes and defense spending.
The 134-page document paints in bold strokes but never escapes the sea of red ink facing the government, as Obama must navigate a course between fiscal discipline and not stifling efforts to turn around the collapsing economy.
The 2009 deficit, for the fiscal year ending Sept. 30, is now projected at $1.75 trillion, after a final White House adjustment allowing $250 billion in more aid for failing banks. Even if Obama should succeed with all his proposals, the 2019 projected deficit is $712 billion and the national debt will have almost doubled again to $23.1 trillion.
Continue Article: http://www.politico.com/news/stories/0209/19365.html