$1.75 trillion Deficit

The big number is bad enough but this amounts to 12 percent of Gross Domestic Product. Once again I have to start wondering to myself, is the U.S. in for a future downgrade of its bonds. The thought of this is horrific.

Highlights:

• $250 billion in new aid to the financial industry (could be $750 billion)


• $635 billion for nation’s health-care system (first down payment)


• $75 billion this year for Iraq and Afghanistan war

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Sources and more information:
In President's Budget Plan, Broad Agenda and a Few Gaps
Obama’s Proposes Up to $750 Billion More for Bank Aid
Obama budget moves toward universal health care

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