White House to paint grim fiscal picture

01-31-2010 • Reuters

The White House will predict a $1.6 trillion U.S. budget deficit in the 2010 fiscal year, a fresh record and the biggest since World War Two as a share of the economy.

The grim forecast adds to the challenges facing President Barack Obama, who is emphasizing a message of fiscal discipline but is also seeking stimulus measures to boost the struggling economy in the near term.

1 Comments in Response to White House to paint grim fiscal picture

Comment by Lucky Red

Entered on: 2/1/2010 8:13:26 AM

Paint a grim picture? I think somebody needs to wake up and smell the Starbucks. The country, my friend, is bankrupt and anyone who can't tell that is because he/she ain't paying attention. Actually, the 1.6 trillion sounds mild in comparison to the reality of the hole we're all in.

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