John.hergy member
Joined: 14 Jan 2010 Posts: 165 Location: Argentina
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Posted: Sun Feb 12, 2012 4:32 pm Post subject: Obama's budget to project $US1.3 trillion deficit |
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http://www.theaustralian.com.au/business/world/obamas-budget-to-project-us13-trillion-deficit/story-e6frg90o-1226268401348
Obama's budget to project $US1.3 trillion deficit
From: AFP
February 11, 2012 9:57AM
US President Barack Obama's budget to be released on Monday will project a $US1.3 trillion ($1.21 trillion) deficit in fiscal year 2012, an administration official says.
President Obama's last annual budget before he seeks re-election in November will also project a $US901 trillion deficit for fiscal year 2013, and will frame his campaign trail message of a fair fight for all.
The budget deficit recorded in 2011 was $US1.296 trillion.
The spending plan, details of which were first reported by the Wall Street Journal and Dow Jones Newswires, will also include more than $US350 billion for short-term job creating programs.
The official confirmed the proposal also includes $US476bn in infrastructure spending on roads and other transport projects and includes more than $US360bn in savings from government-run health programs for seniors and the poor.
The budget is likely to mirror a spending plan laid out to avert a government shutdown in September. |
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