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February 1, 2010
$3.83 Trillion
Topics: Political News and commentariesThe Obama administration released its jaw-dropping budget today, and it calls for a $3.83 trillion budget in FY 2011 and a $1.6 trillion deficit in the current fiscal year. That's $2.1 trillion higher than the WH projected a year ago, and as Joseph Lawler points out, this is a post-WWII record.
Rep. Paul Ryan's review of the Obama administration's giant budget includes this graph, which clearly shows the extent of what is happening with the deficit.
And who does Obama blame much of the nation's budget woes on? You guessed it, it's the fault of the Bush tax cuts.
Obviously, the administration didn't get the message from Massachusetts. The American people aren't buying his "blame it on Bush" excuses anymore, and they damned well don't want the debt to increase.
Related: WH Sees Cumulative Deficts $2.1 Trillion Higher Than It Projected a Year Ago
.Obama budget would impose host of tax increases
Hensarling destroys Obama in deficit kerfuffle (with video)
Related video (humor): What Does the Freeze Look Like? (It's a terrible joke)
Posted by Richard at February 1, 2010 10:18 AM
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