…the entire federal budget
as submitted by President Clinton in 1996 through 1999
was smaller than the budget deficit
that Obama is proposing for next year
Market Movers Anonymous Comment
Obama's total budget is $3.6 trillion
which works out at $34,000 per household
median household income is about $50,000
Which basically means that for every dollar that a US household earns
the US government plans to spend 68 cents next year
And the ten-year T-bond still yields less than 3%
Extraordinary
Felix Salmon
Market Movers
Why would a nation at war with large deficits and debts
borrow money to pay for tax cuts
and non-military or non-essential discretionary spending
and why do so few know and/or care?
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