Obama's deficit woes linger despite rosier estimate


By : Jeff Mason - Analysis
Date posted :2009-08-20 02:23:00

WASHINGTON (Reuters) - A stabilizing U.S. financial sector may have freed the White House to trim its 2009 budget deficit projection but the still-record-breaking figure will not make it easier to sell healthcare reform.

President Barack Obama's administration will lower its budget deficit forecast next week for the current fiscal year to $1.58 trillion from $1.84 trillion after removing $250 billion set aside for bank bailouts, officials said.

The decision shows the administration has enough confidence in the financial sector's strength to forego an option to ask the U.S. Congress for further rescue funds.

But the lower figure's release, which comes at a convenient time for Obama as he tries to overcome critics' concerns about a nearly $1 trillion overhaul of the healthcare system, does not change a key problem: it is still in the trillions of dollars.

"The size of the deficit remains large and most Americans will see it that way," said Julian Zelizer, a history professor at Princeton University.


Read the full article.

[Back to Previous Page]



Featured Jobs

Browse Featured Jobs

Employers post a job here

Hot Jobs

Browse Hot Jobs


Find A Local Education Job



    Featured Employers

    Accenture Autodesk, Incorporated Bed Bath & Beyond BI-LO
    Brooks Running buybuy BABY C & S Companies Cabela's Incorporated
    Carestream Central Community College Christmas Tree Shops City of Hope
    Community Health Center, Inc. Compass Group Datto Dormer Pramet
    Estes Express Lines FCA Group FirstEnergy Foley Equipment
    Genesis Energy, L.P. Harmon Harveys Hewlett-Packard
    Hobby Lobby Stores, Inc. Housing Works Ifbyphone, Inc. Information Services Group
    Integra LifeSciences InterContinental Hotels Group Interim HealthCare Keenan & Associates
    KPMG Lennox International Inc. LMI Aerospace Moody's
    NeighborWorks America Nestle Purina Northrop Grumman O'Reilly Auto Parts
    Office Depot Olympus Corporation of the Americas Packaging Corporation of America Parkview Health
    Phillips 66 Pilot Flying J Sandvik Sandvik Coromant
    Schaedler Yesco SciQuest Seco Tools Shimadzu Scientific Instruments, Inc.
    Silicon Valley Bank Sun National Bank T-Mobile The Children's Village
    The Fresh Market The Hanover Insurance Group The Nature Conservancy The Scotts Miracle-Gro Company
    The University of New Mexico Thorlabs tronc TSymmetry
    Union of Concerned Scientists US Ecology, Inc. Vermeer Midwest Walter
    Winn Dixie

    Partners

    IHire Job Target One Click Crosspost



    Diversityworking Ads


    Post Your Resume Now

    This website has been awarded the "preferred website" status
    in the Who's Who Guide


    Trade Pub