{"id":1259,"date":"2009-02-26T15:17:50","date_gmt":"2009-02-26T15:17:50","guid":{"rendered":"http:\/\/ietransfer.wpengine.com\/?p=1259"},"modified":"2009-02-26T15:17:50","modified_gmt":"2009-02-26T15:17:50","slug":"president-obama-announces-a-deficit-of-175-trillion-and-a-budget-of-over-3-trillion","status":"publish","type":"post","link":"https:\/\/inspiredeconomist.com\/articles\/president-obama-announces-a-deficit-of-175-trillion-and-a-budget-of-over-3-trillion\/","title":{"rendered":"President Obama Announces A $1.75 Trillion Deficit And A $3.6 Trillion Budget"},"content":{"rendered":"

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President Obama estimates a deficit<\/a> of $1.75 trillion, equal to 12.3 percent of U.S. gross domestic product. He also delivered a $3.6 Trillion Budget Blueprint.<\/h4>\n

After the President’s “We Will Recover” speech<\/a> to the nation earlier this week, Americans came away asking the question where he would get the funds to spend on all of the programs that he had promised such as health care and education. It is now apparent that many of those funds will come from the American public<\/a>.<\/p>\n

What’s The New Budget?<\/strong><\/h4>\n

A whopping $3.6 trillion dollars with expanded government activism, tax increases on affluent families and businesses, and spending cuts targeted at those he says profited from “an era of profound irresponsibility.”<\/p>\n

The budget blueprint for fiscal year 2010 is extremely ambitious: it provides national health care, reduce the energy economy’s dependence on oil and gas, and boost education. Great ideas no doubt but are they fit for troubled times?<\/p>\n

Many Americans are saying that President Obama should focus entirely on fixing the economy and then take other things up on a case by case basis. The Republicans particularly are up in arms; they are of the view that the new budget will only perpetuate the recession.<\/p>\n

What’s Does The New Budget Comprise?<\/h4>\n

Here is a snapshot of what is included:<\/p>\n