Business

Obama Budget: Record Spending, Record Deficit

The Associated Press
Spelling out painful priorities, Obama urged Congress on Monday to quickly approve a huge new shot of spending for recession relief and job creation, part of a record $3.8 trillion budget that would boost the deficit beyond any in the nation's history while only slowly beginning to put Americans back to work. If Congress goes along with Obama's election-year plan, the nation would still end the year with unemployment pushing double digits at 9.8 percent and this year's pool of government red ink deepening to $1.56 trillion — by the administration's accounting.
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Posted by Editor at February 2, 2010 02:34 AM