Obama released his proposed budget for 2011 on Monday. Here are just a few points from
Keith Hennessey:
We can draw five important conclusions from this graph: - At 8.3% of GDP, the proposed budget deficit for 2011 is still extremely high.
- President Obama is proposing larger budget deficits than he did last year.
- For 2011, the most relevant year of this proposal, the President is proposing a budget deficit that is 2.3 percentage points higher than he did last year (8.3% vs. 6.0%).
- Using his own numbers, the President’s proposed budget deficits will cause debt as a share of the economy to increase.
- Under the President’s proposal, budget deficits begin to increase as a share of the economy beginning in 2018.
This does not sound too ideal...
1 comment:
For years I have always thought that when governments are trying to cut budgets, that they should cut every single thing across the board by a certain percentage. That way, there couldn't be any big arguments, or long discussions. If everything was supposedly worthwhile being funded at 100%, then those same things would be equally funded at 98%, or 95% or whatever. Even though most people would rather cut their own least-favorite government expenses, doesn't this idea seem like a quick and efficient way to lower government expenses?
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