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IPFS News Link • Economy - Economics USA

White House to paint grim fiscal picture

• 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

Comment by Lola Flores
Entered on:

 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.