President Obamas budget proposal for 2010 projects a stunning deficit of $1.75 trillion for the current fiscal year, which began five months ago, reflecting a shortfall of more than $1 trillion as the fiscal year began, plus the costs of bank bailouts, the first wave of spending from the newly enacted stimulus plan and the continuing costs of war.
Read the full story here:
http://www.nytimes.com/2009/02/27/us/politics/27web-budget.html
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