By Terence P. Jeffrey,CNS News
Biden and Obama are borrowing at an alarming rate
The historical budget tables released Monday by the White House along with President Barack Obama’s budget indicate that the first three years of Obama’s presidency—2009,2010 and 2011—will feature the three
largest annual budget deficits (when measured as a percentage of GDP) since World War II.
The deficits for 2009,2010 and 2011 will also be the three largest ever in non-inflation-adjusted dollars. According to the budget tables published by the White House,the 2009 deficit was $1.41 trillion.
The 2010 deficit will reach $1.56 trillion and the 2011 deficit will reach $1.27 trillion.
When measured as a percent of GDP,according to the White House,the deficit for 2009 was 9.9 percent of GDP,the deficit for 2010 will be 10.6 percent of GDP,and the deficit for 2011 will be 8.3 percent of GDP.
From 1946 through 2008,the annual budget deficit never approached 8 percent of GDP. Before Obama,the two highest post-World War II budget deficits as measured by percentage of GDP were immediately after the war in 1946,when the deficit equaled 7.2 percent of GDP and in 1983,when it equaled 6.0 percent.
obama is a big joke he is spending us to bankrupcy and he knows it that is what satan hired him to do he hates AMERICA and his wife to and you liberals and so called Christians voted for this evil marxists communists boy muslim from kenya I wish you were the only ones effected you who voted for this boy
IMPEACH OBAMA IN 2010 he's a poor excuse for a President.
http://www.impeachobamacampaign.com/
The proposed Obama budget is the largest in the history of the United States and,my guess,the largest ever for any country in the history of the world….
http://www.periodictablet.com