Fox News :'Next President to Face Record Budget Deficit'

[underpants]

http://www.foxnews.com/story/0,2933,392043,00.html

WASHINGTON — The White House is expected to report a projection for a $490 billion budget deficit for the budget year ending in September 2009, a number that would be the highest number recorded.

Senior administration officials confirmed the number to FOX News on Monday, but downplayed the impact of the number. The official said that as a percentage of the U.S. gross domestic product, the deficit projection would be roughly 3 percent to 4 percent.

Another senior administration official said "a lot can happen" in 18 months that could worsen or improve the outlook, such as an improved economy leading to better tax returns, or increased spending under a new administration. The official specifically warned about the impact a Democrats.

"Democrats could blow the doors off spending and drive the deficit even higher," the official said.


Fox News!!!!

[NightWatcher]

1. rewrite headline to read: Obama to inherit shitty republican based economy (and to be blamed for it)

[jwirr]

2. No one - Democratic or other could do worse than the repubs. nt

[redqueen]

3. "warned about the impact a Democrats." ?!

They're stupid, their audience is stupid...

Idiocracy is real.

[YOY]

4. So we'd make that spending go up?

and stopping Operation Catastrophuck wouldn't put a hamper on that?

I wonder how many Fox News viewers make the connection of Iraq Spending and the economy.

[Captain Angry]

7. Spending on war isn't spending to them.

Everybody always has to put that disclaimer in there, I'm for cutting wasteful government spending, but I will always fund our military.

No, if you spend to help homeless people or spend to improve education, or create jobs, or to provide health care, you're wasting their tax dollars.

If you spend to blow up people that can not and could not ever affect anybody here in the USA, it's cool. In fact, you're a liberal pussy for not spending even more.

[YOY]

11. And money that people would actually see go into effect.

Hell if we took a quarter of the Iraq budget and put it to good use it could fix us in 4 years....maybe 8.

[Captain Angry]

12. The numbers are so big, people can't comprehend them.

The amount of money that some programs need are in the low millions. One billion dollar is equal to 1000 million dollars. If you need 100 million to fix or replace a series of bridges, you still have 900 million dollars left over.

And that one billion dollars out of 750 billion that's been spent wouldn't even be noticed.

Maybe our soldiers go without KBR monogrammed towels. I think they could deal with that.

[louis-t]

5. Gee, what happened to "cut the deficit in half in 5 years"?

Wasn't stupidface bragging he would do that? Oh wait, the Liberals stopped him from doing that while he had a repug majority and controlled everything.

[global1]

6. Thank You G.W.* And The Rubber Stamp Repug Congress....

that ran rampant from 2000 to 2006. Obama needs to bring in a Charles Grodin character from the movie Dave and go over all the books.

After all - all of us sitting out here have to make do with what we've got. We have to make decisions as to what's important and we have to watch our money and budget. Why shouldn't our government.

Unfortunately - Congress feels that they have an endless supply of money and all they have to do is put their hands in our back pockets to get it. This has got to stop.

Also - everyone has to pay and contribute their fare share. That means repealing the tax cuts to the top 1% and also have them contribute on a percentage basis of their income to SS and not cut off in the middle class zone as it does now.

Ending this war would help. Becoming more energy independent would also move this in the right direction.

Ultimately though we have to get out of this mentality that every year a company has to do better than last. This is usually handled by raising prices, cutting wages, downsizing and shipping jobs overseas. This has got to be reigned in. How about incentives for companies maintain jobs here. Those employees - pay taxes and contribute their fare share. Farming out jobs overseas - takes that source of revenue right out of the equation.

Seems to me that we need to come up with a different definition of doing better than last year - that's not tied to just additional sales dollars and profits. We need to be creative. We need to judge companies on more than just their bottom line.

Now I have nothing against profit - but aren't people important?

[MidwestTransplant]

8. But the tax cuts were supposed to cut the deficit. Ok, I doubted it too.

[sinkingfeeling]

9. All hail the presidency of G.W., largest deficits in history and added $4 trillion to the national

debt.

[doc03]

10. McCain's ad says the economy is in a shambles

so we should elect another Republican. Gawd the American public is stupid, I still hear Republicans calling Democrats "tax and spend" everyday and they are serious.