full story http://www.nytimes.com/2009/02/27/us/politics/27web-budget.html?_r=1&partner=rss&emc=rss&src=igw
The budget plan projects the deficit falling to $1.17 trillion in 2010 and down to Mr. Obama’s goal of $533 billion in 2013, then increasing again to $712 billion by 2019. Mr. Obama takes credit for $2 trillion in deficit reduction over 10 years, three quarters of which comes from lower expenses in Iraq and Afghanistan and most of the rest from tax increases on the wealthy and revenue from a market-based cap on greenhouse gas emissions.
The forecasts are also founded on optimistic assumptions that the recession will end by next year and quickly produce stronger growth than was seen in the last decade. After the economy shrinks this year, the Obama team assumes that the gross domestic product, adjusted for inflation, will increase by 3.2 percent next year and then 4 percent or more the following three years, a rate nearly twice the average of the Bush years.
F!!!!!!!!!!!!!! this idiot socialist is trying to take the dow to ZERO?
what are ASS UMPTIONS??????? With McCain a loser, and no 3rd party candidate allowed...................BIZ as USUAL is what we're stuck with/
I have NEVER seen a PRES in front of cameras like this one...the campaign is over...so is the party....
MKT no LIKEY! BASSACKWARDIZATION
Duratek
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2 comments:
John Tanker here,
As a well known former pit trader (retired) in Chicago and Commodity adviser to institutions, I can tell you that the market right now is NOT reacting to Obama. I like your blog. What you're hearing is and seeing is a gigantic fork plunging in to the heart of the Goldwater/Reagan revolution. It was inevitable. Seasoned traders know that suggesting correlation, coincidence, and the paint by numbers game with respect to politics, price, and trading is very messy. Don't forget wars, bad business and risk management, etc. were already peaking before Obama. I am a libertarian btw. Good luck with your blog, John Tanker
John
Thanks for stepping out of the shadows..maybe ill placed anger at Obamma, I'm not even saying dont raise taxes on those helped by Bush , but NOW is not the time.
YUP, we gotta pay for 20 years of abusive behaviour and bad policies, there's enough blame to go around,I'm all for a 3rd party candidtae next time around.
We have K-Winter now and it is going to UNWIND these abuses and with credit contraction, and irradication...no gov policy is going to stop this until job is done.
We end up with a clean slate at THE BOTTOM....and even for me, I am surprised how quickly it is coming.
Please, keep reading, I'll try to keep political discussions to minimum.
D
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