$1 Trillion Fed Deficit Projected

Message Topic Search Topic Options Post Reply Create New Topic Printable Version Translate Topic

   The White House Office of Management and Budget in July estimated the 2009 deficit at $482 billion, but that doesn't take into account possible losses down the road from loans and investments made under the $700 billion financial rescue plan enacted in October or other efforts to bail out stricken financial institutions.

Borrowing adds to the national debt, the money the federal government owes to states, corporations, individuals and foreign countries such as China and Japan that buy U.S. Treasury notes, bonds and other debt instruments. The debt, which stood at about $5.7 trillion in 2007, topped the $10 trillion mark in October and now stands at about $10.6 trillion. 

Author	Message Topic Search Topic Options Post Reply Create New Topic Printable Version Translate Topic
Middletown News Members Profile Send Private Message Find Members Posts Visit Members Homepage Add to Buddy List Prominent MUSA Citizen Joined: Apr 29 2008 Location: United States Status: Offline Points: 1100	Post Options Post Reply Quote Middletown News Report Post Thanks(0) Quote Reply Topic: $1 Trillion Fed Deficit Projected Posted: Nov 25 2008 at 3:16pm
	The White House Office of Management and Budget in July estimated the 2009 deficit at $482 billion, but that doesn't take into account possible losses down the road from loans and investments made under the $700 billion financial rescue plan enacted in October or other efforts to bail out stricken financial institutions. Borrowing adds to the national debt, the money the federal government owes to states, corporations, individuals and foreign countries such as China and Japan that buy U.S. Treasury notes, bonds and other debt instruments. The debt, which stood at about $5.7 trillion in 2007, topped the $10 trillion mark in October and now stands at about $10.6 trillion.
	Please like our Middletown USA Facebook Page

John Beagle Members Profile Send Private Message Find Members Posts Visit Members Homepage Add to Buddy List MUSA Official Joined: Apr 23 2007 Location: Middletown Status: Offline Points: 1855	Post Options Post Reply Quote John Beagle Report Post Thanks(0) Quote Reply Posted: Nov 26 2008 at 10:21am
	It will get worse than that if we implement a new health care system.
	John Beagle Middletown USA News of, for and by the people of Middletown, Ohio.