The Mudcat Café TM
Thread #115883   Message #2899581
Posted By: Sawzaw
04-May-10 - 12:59 AM
Thread Name: BS: Popular Views: the Obama Administration
Subject: RE: BS: Popular Views: the Obama Administration
Who is going to bail out the US?

WSJ

Then there's the United States which, like Greece and Britain, is facing double-digit deficits. In February, the Obama administration predicted an eye-popping $1.6 trillion deficit for this year, or 11.2% of GDP. Barring an unexpected windfall, the federal government will borrow fully 40% of the $3.6 trillion it is on course to spend this fiscal year. The administration's response? It passed a new $1 trillion health-care entitlement and asserted that this new spending would lower the deficit over the coming decade...