posted on Feb, 22 2009 @ 01:00 PM
WASHINGTON: After a string of costly bailout and stimulus measures, President Barack Obama will set a goal this week to cut the annual deficit at
least in half by the end of his term, administration officials said. The reduction would come in large part through Iraq troop withdrawals and higher
taxes on the wealthy.
Obama's budget outline, which he will release on Thursday, will also confirm his intention to deliver this year on ambitious campaign promises on
health care and energy policy.
The president inherited a deficit for 2009 of about $1.2 trillion, which will rise to more than $1.5 trillion, given initial spending from his
recently enacted stimulus package. His budget blueprint for the 2010 fiscal year, which begins Oct. 1, will include a 10-year projection showing the
annual deficit declining to $533 billion in the 2013 fiscal year, the last year of his term, officials said.
I am glad to see that the president is at least aware of this unbelievable challenge ahead of us. I know that it is a very unpopular thing to say on
this sight, but I for one think that Obama has done a great job thus far in trying to get us out of hot water.
He is one by one, tackling the big problems with big ideas. He is attempting to build bipartisan support. However, the majority of the Republicans
out there are choosing to continue to be devisive. Will this potentially come back to haunt them when the next election comes through.
Obama is attempting to mend fences around the world with past allies. He is also enganging our enemies head on. I for one commend his leadership and
Now flame away.