Subscribe Feed (RSS)Sea of Red Ink: How It Spread From a Puddle
June 9th, 2009 by ProvoBoy | No Comments | Filed in David Leonhardt, Federal Deficit, New York Times, Obama, Spending, Taxes, governmentThere are two basic truths about the enormous deficits that the federal government will run in the coming years.
The first is that President Obama’s agenda, ambitious as it may be, is responsible for only a sliver of the deficits, despite what many of his Republican critics are saying. The second is that Mr. Obama does not have a realistic plan for eliminating the deficit, despite what his advisers have suggested.
To understand the looming deficits, The New York Times analyzed Congressional Budget Office projections of the budget surplus or deficit for the years 2009-12, President Obama’s current term. The budget office has been making estimates for these years for nearly a decade now. The numbers that appear below are the average annual deficit or surplus for this four-year period.
