Monday, March 02, 2009

BO's deficits!


Irwin Stelzer is a business adviser and director of economic policy studies at the Hudson Institute.


"What is responsible about a budget that projects deficits rising from $459 billion to $1,752 billion in the first year of Obama’s budget, and remaining at $712 billion as far ahead as 2019, when the economy will be growing, is not clear."

What's responsible about it? Nothing, unless you are a "yes we can" screamer!

By the way, Pres BO's budget assumes that everybody will buy a lot of our T-Bills.

They will buy them. I am sure that they will.

However, they will demand higher interest rates, which will mean inflation over here.

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