Bush looks penny pinching by comparison. In 2008 his budget deficit was a tiny $400,000,000,000. Obama's first budget multiplies that by 4 to $1,750,000,000,000.
Bush Proposes Budget With $400B Deficit - CBS News
BBC NEWS | Business | Obama unveils his $3.6tn budget
Where's the money comming from? Ireland had difficulty raising €4bln in pocket change this morning. Is Obama going to borrow or do a Mugabe and print it?
"Who will bailout the IMF after FF is finished with them?"
Indeed. Bush actually looks like a fiscal conservative!
You mean the Zimbabwe School of Economics:
[ame=http://www.youtube.com/watch?v=SBI2mCx3b4A]YouTube - Marc Faber about Zimbabwe School of Economics 2009.02.06[/ame]
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Proportionally, we doing exactly the same. The only difference is that Obama can print money and we can't.
Vive le Québec libre ! Ag beathú na dtochardán ón mbliain 2007.
Seb, they're gonna borrow it from the Chinese and Japanese just like the 5trillion Bush borrowed.
Do you've any idea how vicious the cuts they'd have to make to balance their budget?
They've got to do something though, or it wont' be long before people are carrying dollars around in wheelbarrows.
He's proposed to cut the defecit in half by the end of his first term...this budget would seem to totally contradict that.
Many short term spending will save a holy fortune in the long run though like the switch to electronic health records and other healthcare reforms, as well as gutting the waste in the Milliary budget which he's committed to doing.
I know where the cuts should start:
Top 10 Countries by Military Expenditure, 2007
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An astonishing stark contrast alright.
Every one sees what you appear to be, few really know what you are, and those few dare not oppose themselves to the opinion of the many, who have the majesty of the state to defend them.
- [SIZE=2]Niccolò Machiavelli[/SIZE]
2000, your right they need to loose the empire.
Wednesday: "I will cut the defecit in half by the end of my first term"
Thursday: "here have a budget that doubles the defecit"
Before you all get carried away though thinking he's gonna go all Liberaly democrat spend like theres no tommorow take a look at this:
Under Bush it went from 5-10 trillion, so lets not get too carried away...
...and remember this is just the draft he's sending to them...it will look totally different by the time it reaches his desk for signature.
In the mean time heres a fun tool, you can watch America drown in red ink right on your desktop!
http://www.brillig.com/debt_clock/
Hey, if he brings it back to the level it was when he entered office ti still counts as cutting it in half...
Every one sees what you appear to be, few really know what you are, and those few dare not oppose themselves to the opinion of the many, who have the majesty of the state to defend them.
- [SIZE=2]Niccolò Machiavelli[/SIZE]
Thats what a republican senator said on MSNBC quite sarcastically...those guys would wanna be careful talking about wreckless defect spending...
A man goes to buy a cup of coffie, USA, 2020
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