Posted on 01/25/2011 3:15:07 PM PST by tobyhill
President-elect Barack Obama predicted Tuesday that the nation could see "trillion-dollar deficits for years to come," but said the country needs to continue spending taxpayer dollars to get the economy back on track.
Obama, speaking to reporters at his Washington transition office, said he didn't want to get into specific budget numbers because his proposal is still being worked out with lawmakers and has yet to be submitted for debate. But he expects a trillion-dollar deficit before the next fiscal-year budget is even proposed.
"We're already looking at a trillion-dollar budget deficit or close to a trillion-dollar budget deficit, and that potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on at this point," Obama said.
The president-elect was lobbying Capitol Hill as the 111th Congress convenes, attempting to pitch an economy recovery package estimated to hit about $775 billion.
Asked about concerns of increased deficit spending, Obama said: "We know that we're going to have to spend money to jump-start the economy."
(Excerpt) Read more at foxnews.com ...
It seems he’s proud of it.
At least as of the moment we know where we stand with this fool.
I have actually met leftists who think Bush caused the deficit in 2009. Whoever said that stupidity was infinite was dead on.
Tomorrow I’m going to the bank and take all my money out and blow it on booze, butts, broads and bets. That’s how I’m going to pay my bills.
Is that how it works?
He loves to spend money we do not have and charge it to China.
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