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

New Jobs

Browse New Jobs


Find A Local Education Job



    Featured Employers

    3E 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 Foley Equipment Fresco Y Mas
    Harbor Freight Tools Harmon Harveys Ifbyphone, Inc.
    Information Services Group Integra LifeSciences InterContinental Hotels Group Interim HealthCare
    Keenan & Associates KPMG LMI Aerospace NeighborWorks America
    Nestle Purina O'Reilly Auto Parts Office Depot Packaging Corporation of America
    Phillips 66 Schaedler Yesco Distribution, Inc. Shimadzu Scientific Instruments, Inc. Southeastern Grocers
    Sun National Bank The Children's Village The Hanover Insurance Group The Nature Conservancy
    The Scotts Miracle-Gro Company Thorlabs tronc TSymmetry
    Union of Concerned Scientists US Ecology, Inc. Vermeer Midwest Winn Dixie
    World Market YRCI

    Partners

    Job Target One Click Recruitology