US deficit expected to reach $1.6 trillion this year

Barack Obama says his proposed budget is $3.8 trillion dollars, the U.S. deficit is expected to reach $1.6 trillion dollars this year. Obama proposed a 3 year freeze on non-military discretionary spending. Russia urged China to dump its Fannie Mae and Freddie Mac bonds in 2008 in a bid to force a bailout of the largest U.S. mortgage-finance companies.

Category:

News & Politics

Tags:

• dina gusovsky
• ivan eland
• fannie mae
• Beijing olympics
• rt
• russia today
• budget
• year
• freeze
• spending
• china

[TokyoPlumber]

The US government is NOT being held to "the same standards families and businesses hold themselves". The projected federal deficit for 2011 is more than fifty percent (50%) in excess of federal tax revenue. It's analogous to someone having a post-tax income of $50,000 and $75,000 lifestyle. You simply cannot live this way for long before your debt load becomes impossible to service and bankruptcy is your only option.

[d2h4w]

dina you are FINE!

[560e]

The USA is bankrupt. All the money from our debts went to Halliburton, BP and other criminally-run corporations and virtually none went to the always-quiet public.

[logan4732]

@megarational u think too much! but since ur so good at pointing out problems what's ur solutions? btw have u ever read the constitution & bill of rights? either way i'm not talking politics or government really but FREEDOM & HAPPINESS which has never been the result of a political scheme. stop looking at symptoms of the world's disease & get at the root, cause all the stuff u list are 2ndary issues that will never be solved by a political system all that will happen is less freedom & happiness!

[megarational]

@logan4732 Horseshit. Following the constitution will not make the U.S; energy independent, stop the outsourcing of jobs overseas, stem the flood of illegal immigrants, correct the massive trade deficit, or change the political system that is dominated by special interest money.

[logan4732]

@megarational "Fundamentally" that is the problem, when you keep it simple life doesn't get complicated. Obviously there are innumerable problems in this country and world, and there will always be when you have innumerably different political agendas!

[megarational]

@logan4732 If you think that's the problem you are a simpleton.

[megarational]

@TokyoPlumber You have a congressman for every district, and they get campaign financing and votes based on how much money they can get appropriated for their district. So you have all these politicians continually trying to squeeze out more money for their district. .

[mickyboy200768]

US government are digging there own and the public's graves, it is the US taxpayer who are burdened with supporting backbreaking US war efforts in the Middle East to the tune of well over $100bn a year. Official figures for US military aid to Israel currently exceed $3bn a year plus each Israeli receives a direct subsidy worth about $500 per year, US taxpayers are also burdened with long-term aid support to Egypt, Jordan etc, $400 million to disrupt iran, yet USA can't rebuild new orleans

[derberg19486]

LOL Americans will be paying off debt for ever! Ha Ha Morally and Financially Bankrupt bunch of stupid arrogant fucks.

[sam198199]

I don't know why the world is still using the US dollar. They shouls dump it because obviously it doesn't worth anything.

[val28l]

ImperialEmpire

How does one determines when economy grows, exactly? What are the professionals looking at to determine the growth of the economy?