President-elect Barack Obama, flanked by Budget Director-designate Peter Orszag (left) and Deputy Budget Director-designate Rob Nabors, speaks to reporters after a meeting Tuesday with his top economic advisers at his transition office in Washington. (Gerald Herbert/AP)
(click title to entry - thank you) ...Obama told reporters that the deficit will probably hit $1 trillion this year and that "potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."
Eight years ago the federal budget ran a surplus, and the deficit on Sept. 30 was about $455 billion. Obama promised to make difficult choices and to "eliminate outmoded programs and make the ones we do need work better," but did not specify which programs might be trimmed or eliminated....
Eight years ago the federal budget ran a surplus, and the deficit on Sept. 30 was about $455 billion. Obama promised to make difficult choices and to "eliminate outmoded programs and make the ones we do need work better," but did not specify which programs might be trimmed or eliminated....
President-Elect Obama began his run for the White House years ago. It was a difficult run including 'political land mines' everywhere. He over came every one. With the same style and grace he conducted his campaign he is now taking on the profound problems of the USA left by exploitive Republican administrations, some dating back over thirty years ago with environmental legislation, while good for 'the times' is grossly outdated today.
The current problems we face are immense in their planning to resolve, their cost to that end and the actual acts needed to navigate to come out with a world worthy of the world's children's futures.
He is up to it.
However, there is no way the cost of any of the recovery or the deficit can be pinned on his administration. The assault on this country was and is based in Republican values that simply don't work. They have never worked, but, were allowed to exist because it served to be a 'difference' between two American political parties. The Republicans established their principles in greed and privitization at any cost, including the health of Americans.
To prove how much of this is 'inherited' from the Bush/Cheney Executive Branch all one has to do is look to Bush's speech following his election of 2004 where he called for $2 Trillion US to 'remodel' Social Security. Those words and numbers rolled off that man's lips like it was casual conversation over morning coffee.
The Obama Administration will prove how to 'rescue' an economy exploited beyond imagination and will do it successfully.
The principles are easy.
No corruption.
Sound values in decision making to sculpt a 'socially moral, lasting and free future' for all Americans.
No greed to derail frugal decision making to squeeze every advantage out of every penny we spend along the way.
And last, but, never least. Public awareness and involvement.
The electorate has participated to elect this President, there is no reason to believe involvement ends there. It is up to us to monitor progress and help form decision making in using public funds to their best end.
I have a great deal of confidence we will succeed, "Oh, yes we can."
