U.S. president to seek $3.606 trillion for first budget

Triton

Founding Member
Regular Member
Joined
Feb 16, 2009
Messages
342
Likes
7
U.S. president to seek $3.606 trillion for first budget

WASHINGTON, Feb. 26 (Xinhua) -- U.S. President Barack Obama is expected to propose a budget of 3.606 trillion U.S. dollars for fiscal year 2010 on Thursday in an attempt to pull the U.S. economy out of a recession.

In his first budget blueprint to Congress, the president expects that the costs of the Iraq and Afghanistan wars will total just over 140 billion dollars this year. The costs for the two wars will decline to 130 billion in the 2010 fiscal year.

Annual costs for the war will drop sharply after that, to 50 billion dollars annually beginning in 2011, the budget will show.

He also requested as much as 634 billion dollars for health care reforms over the next 10 years.

Obama also has asked for an additional 250 billion dollars to be set aside if needed to bail out the U.S. financial system.
War in Iraq, Afghanistan & the financial bailouts may be the reason for this huge figures.
 

Triton

Founding Member
Regular Member
Joined
Feb 16, 2009
Messages
342
Likes
7
Obama budget plan forecasts soaring deficits

WASHINGTON (Reuters) - President Barack Obama forecast the biggest U.S. deficit since World War Two in a budget on Thursday that urges a costly overhaul of the healthcare system and would spend billions to arrest the economy's freefall.

An eye-popping $1.75 trillion deficit for the 2009 fiscal year underlined the heavy blow the deep recession has dealt to the country's finances as Obama unveiled his first budget. That is the highest ever in dollar terms, and amounts to a 12.3 percent share of the economy -- the largest since 1945. In 2010, the deficit would dip to a still-huge $1.17 trillion, Obama predicted.
Read Complete Article here
 
Joined
Feb 16, 2009
Messages
25,582
Likes
25,784
Country flag
this guy is a dam idiot higher taxes, higher budget deficit and no future for USA bring busk back.
 

pyromaniac

Founding Member
Regular Member
Joined
Feb 19, 2009
Messages
535
Likes
14
this guy is a dam idiot higher taxes, higher budget deficit and no future for USA bring busk back.
holy shizkabab...he has said that he is going to get the deficit down to half of what it was...but I don't understand how spending more is going to get us there. I guess he has to try to undo what our previous glorious president put us in.
 
Joined
Feb 16, 2009
Messages
25,582
Likes
25,784
Country flag
he also increased health care spending because all his people are getting it free on medicaid how does that help? he is ending the iraq war a year too late and he wants to expand a losing war in afghanistan with no clear support from pakistan, meanwhile US banking,housing,auto industries have collapsed and almost 1 million people a month are losing their jobs and all manufacturing sent to the commies in china and his brilliant plan of targetting outsourcing a proven costsaver for the lack of eductated labor here to do the job, and his stimulus package nothing but pork barrel spending no real job creation.
 

Global Defence

New threads

Articles

Top