President's $3.8 Trillion Budget Heading To Congress

It could be a record-breaker when President Barack Obama proposes his 2011 budget, but the record has economists expressing concern.

A congressional official who had access to a White House summary document says the $3.8 trillion budget Obama is expected to release today predicts the national deficit will be a record-breaking $1.6 trillion in 2010. Then it'll start to recede in 2011 to just below $1.3 trillion.

The administration's new budget says over the next decade deficits will average 4.5 percent of the size of the economy. That's a level that economists say is dangerously high if not addressed. The information also mentions an additional $100 billion to attack high unemployment.

The budget also would provide billions of dollars to pull the country out of the Great Recession, would increase taxes on the wealthy and impose a spending freeze on many government programs.


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  • by NS Location: Greenville on Feb 11, 2010 at 07:41 AM
    For those looking jobs: The Recovery Act jobs (yes, stimulus) are posted on ncrecovery.gov. They are listed by county OSOC- How do you know about the program working for illegals? Are you one of our big NC farmers who hire them and bring them here?
  • by Obama Snake Oil Co Location: Washington on Feb 6, 2010 at 08:16 AM
    NS, you forgot to blame Bush as usual, at least be consistent with the other progressives. Do you think 3.8 trillion is enough yet or should they keep spending? Do you speak Chinese? Can I recomend Rosetta Stone. That stimulus program is working really well for he illegals in NC. You should be proud!
  • by NS Location: Greenville on Feb 5, 2010 at 08:52 PM
    Wolfgang-You left out one little thing-Bush hadn't counted the cost of the wars! When all the figures were added up in Jan. of 2009-they were many times worse than anyone-including economists-knew.
  • by NS Location: Greenville on Feb 5, 2010 at 08:48 PM
    Right, OSOC-Lost 20,000 in Jan. In Dec. of 2008-we lost 700,000. Hmmmmm
  • by Obama Snake Oil Co Location: Washington on Feb 5, 2010 at 12:51 PM
    NS, thats higher than 8%, right? The national unemployment rate for the first month of 2010 fell to 9.7 percent, down from 10 percent in December. At the same time, U.S. employers cut 20,000 jobs in January, the U.S. Bureau of Labor Statistics reported this morning. That rather confusing result reflects the fact that the numbers come from two separate surveys -- a household survey that's a telephone poll of 60,000 persons, and a larger establishment payroll survey that looks at actual employee numbers.
  • by NS Location: Greenvile on Feb 5, 2010 at 09:15 AM
    Anon. seems that Demint needs to be talking to Shelby and Bond-both holding up nominations for their earmarks.
  • by NS Location: Greenville on Feb 5, 2010 at 09:11 AM
    Jobless rate drops to 9.7% in Jan.
  • by NS Location: Greenville on Feb 5, 2010 at 09:07 AM
    Kit Bond-Rep. from Mo. held up Obama nominee for 9 mos. over a $175 million earmark for his state. Sen. Shelby is blocking all nominations (ALL) over a $45 million earmark for Alabama and $40 billion contract in his state (which is being rebid). Both holding up government until they get their money. Both voted against stimulus on the pretext that they want to save the public money.
  • by Wolfgang Location: Chocowinity,NC on Feb 5, 2010 at 06:47 AM
    Obama's great economic stimulas recovery plan. No jobs yet , and the stock market drops below 10,000 this morning. Obama's real goal is it to destroy this Nation from within?
  • by Anonymous military dude on Feb 4, 2010 at 03:55 PM
    Too poor to be a Republican, too smart to be a Democrat.
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