Foundation for Economic Education » Budget Deficit to Hit Postwar Record 12 Percent of GDP

Budget Deficit to Hit Postwar Record 12 Percent of GDP

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“President Barack Obama will forecast a 2009 deficit of $1.75 trillion in a budget proposal on Thursday that sets goals of overhauling the healthcare system and shoring up the U.S. economy. The huge deficit would represent 12.3 percent of U.S. gross domestic product — the largest share since World War II.” (Reuters ^[1], Thursday)

We owe it to ourselves the Chinese.

FEE Timely Classic
“Deficits Do Matter” ^[2] by Hans F. Sennholz

Article printed from Foundation for Economic Education: http://www.fee.org

URL to article: http://www.fee.org/articles/in-brief/budget-deficit-postwar-record/

URLs in this post:

[1] Reuters: http://www.reuters.com/article/marketsNews/idUSN2644850320090226

[2] “Deficits Do Matter”: http://www.thefreemanonline.org/featured/deficits-do-matter/

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