Big bang gives way to busted budget

By DAVID ROGERS,Politico

 

President Barack Obama’s new $3.83 trillion budget is a chickens-come-home-to-roost moment for Democrats who skipped past the deficit to tackle health care last year and now risk paying a heavy price in November.

The great White House political gamble was to act quickly — [...]

Federal Government Will Borrow 40 Percent of the Money It Spends Next Year

By Matt Cover,CNSNews

Obama’s borrowing is 10X greater than Reagan’s

According to the Obama administration’s mid-session budget update,the federal government will have to borrow nearly 40 percent of its total expenditures in 2010.

The report,“Mid-Session Review,Budget of the U.S. Government,Fiscal Year 2010,” shows that [...]

Red China concerned about Obama deficits

By Rob Delaney and Rebecca Christie,Bloomberg

Even the Communists are concerned about our reckless spending

Treasury Secretary Timothy Geithner pledged to rein in the U.S. deficit as China underscored concern about preserving the value of its $801.5 billion of Treasury holdings.

The U.S. will ensure a “sustainable” deficit by [...]