Thanks Barack. This didn’t get much press for some reason but Obama and democrats spent billions this year on their failed stimulus plan and set all kinds of spending records along the way.
The US budget deficit tripled in Obama’s first year in office.
The unemployment rate nearly doubled.
FOX News reported.
The federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week, congressional analysts said Wednesday.
The Congressional Budget Office estimate, while expected, is bad news for the White House and its allies in Congress as they press ahead with health care overhaul legislation that could cost $900 billion over the next decade.
The unprecedented flood of red ink flows from several factors, including a big drop in tax revenues due to the recession, $245 billion in emergency spending on the Wall Street bailout and the takeover of mortgage giants Fannie Mae and Freddie Mac. Then there is almost $200 billion in costs from President Obama’s economic stimulus bill, as well as increases in programs such as unemployment benefits and food stamps.
The previous record deficit was $459 billion and was set just last year.
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Hey, here’s an idea…
Let’s give them health care, too!
UPDATE: On the same day that it was announced that the Obama-Pelosi-Reid government TRIPLED the US deficit, there are reports that dems are planning their second “stimulus” package.
And, the report says the dems are leaving for later how to pay for it, “Or whether even to bother.”