Friday, February 27, 2009

$1.75 Trillion Deficit Seen as Obama Unveils Budget Plan

President Obama’s budget proposal for 2010 projects a stunning deficit of $1.75 trillion for the current fiscal year, which began five months ago, reflecting a shortfall of more than $1 trillion as the fiscal year began, plus the costs of bank bailouts, the first wave of spending from the newly enacted stimulus plan and the continuing costs of war.

read more | digg story

1 comment:

Alex said...

Seven ways of stealing from budget

2. "Guarantees".
In the state budget of 2007 Uah 4,7 billions expenses had been claimed. Those money had been guaranteed to one large state company that should repair roads. What was possible to take had been taken. We are speaking about $1 billions credit that should be secured by state guarantees - ostensibly roads lining and improving. Credits been taken, roads "repaired".