Monday, February 14, 2011

No Surprise: Record Budget, Massive Deficit

The Obama administration today unveiled a $3.7 trillion budget complete with a $1.1 trillion deficit.

By way of comparison, Bush 43's last budget (FY 2009) was $3.1 trillion in expenditures with a $400 billion deficit.  In other words, boys and girls, spending has increased in three years by a relatively nominal 19% but  the deficit has increased by 275%.

A fun fact from the AP coverage of this year's record $1.6 trillion deficit: "an astronomical figure that requires the government to borrow 43 cents out of every dollar it spends."

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