Obama: US faces deficits for yearsA trillion dollars -- one million million.
WASHINGTON – President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.
Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."
He wants Congress to approve a stimulus plan of about $775 billion.
Do you mean to tell me that Barack the Magic Negro cannot remedy yet another huge Republican deficit (A TRILLION $$!!) in his first year in office?
If Slick Willy could pull us out of 12 years of Reagan and Bush 1 deficit misery in four years, you'd think Barack could do it in two?
Of course Bush 41 didn't leave Clinton with two wars and the worst economy since the Great Depression either.
And just think; that $775 billion 'stimulus plan' mentioned above could have been paid for with part of the trillion Bush and his sheep wasted in Iraq. Of course, if they hadn't wasted the trillion, we wouldn't need the 'stimulus'.
Voting for Republicans hurts for a long time.
Update: What's another $200 billion?
(CBS/AP) The U.S. federal budget deficit will hit an unparalleled $1.2 trillion for the 2009 budget year, according to a Capitol Hill aide briefed on new Congressional Budget Office figures. The aide says the CBO also sees a $703 billion deficit for 2010.
