Jumaat, 27 Februari 2009

A $2.7 trillion deficit ..Obama's first budget proposal...

WASHINGTON: President Barack Obama sent his first budget proposal to the US Congress yesterday, bracing himself for fights over how best to heal the economy, create a new health care system and still cut out-of-control deficits.'This budget is an honest accounting of where we are and where we intend to go,' he said before unveiling a summary that forecasts an eye-popping US$1.75 trillion (S$2.7 trillion) deficit for 2009, followed by US$1.17 trillion in 2010. 'There are some hard choices that lie ahead.' The soaring US$1.75 trillion deficit is the biggest since World War II.

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