“President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year, but would push the red ink down to about $700 billion, or 4% of the gross domestic product, by 2013, according to congressional aides.”
“But Obama inherited this mess ...”
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Obama has proven to be trustworthy so far. I’m going to trust him on this one. /deep sarc