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Monday, February 01, 2010

Borrowing 41 cents while raising 59...and spending it all

Another big budget and big deficit from the White House...
In these times, perhaps all elected officials should walk the deficit reduction talk by taking a sizable pay cut. Practice before preaching- is not something that is practiced in Washington.

Obama unveils $3.83T budget with massive deficits - Yahoo! Finance: "President Barack Obama sent Congress a $3.83 trillion budget on Monday that would pour more money into the fight against high unemployment, boost taxes on the wealthy and freeze spending for a wide swath of government programs.

The deficit for this year would surge to a record-breaking $1.56 trillion, topping last year's then unprecedented $1.41 trillion gap. The deficit would remain above $1 trillion in 2011 although the president proposed to institute a three-year budget freeze on a variety of programs outside of the military and homeland security as well as increasing taxes on energy producers and families making more than $250,000."

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