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Obama’s Budgets

October 18, 2009

Liberals correctly point out the excess spending during the Bush years without naming where they would cut spending.

Here are the facts on Obama-you decide.


Obama has forecast a budget deficit of $1.75 trillion in the current fiscal year 2009, but the Congressional Budget Office projected it would be higher, nearly $1.85 trillion.

The highest deficit as a share of the economy since World War Two.

The deficit totaled $455 billion in 2008, which was an all-time high in dollar terms.

Obama wants to reduce the deficit to $533 billion, or 3 percent of GDP, by 2013.


Obama will boost tax collection to 19 percent of the economy in 2013 from about 16 percent this year.

Obama would allow the Bush Tax cuts to expire  allowing the highest U.S. income tax bracket to rise to more than 39 percent from 35 percent.

The budget also assumes a tightening of enforcement of the tax code to crack down on people who use loopholes and other measures to avoid taxes which has never happened.


Obama’s budget assumes a decline in government spending to 22 percent of the economy in 2013 from about 26 percent.

Stand by for a Value Added Tax and more liberal complaints about Bush.

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