The graph above shows the deepest of the national debt reached maximum during mid 2009. It is anticipated to reverse its trend and head back in the direction of the Clinton Surplus of 1999 - 2000.
January 2009Total Deficit or Surplus (Percentage of gross domestic product)
The Budget and Economic Outlook :: Fiscal Years 2009 to 2019 (graph below)
The Congressional Budget Office (click here)
The Administration of President Obama is much to be excited about. If he ever worried about being a mediocre President, he can put that to rest. By simply keeping the USA from complete economic default when taking office in January 2009, he made his place in history.
The Obama Stimulus undoubted stabilized the economy and stopped its ever growing plummet. Everything he does from this point will be somewhat 'lack luster.'
I could not agree more with him on freezing discretionary government spending at the federal level. The President has launched a new direction for the USA in both transportation and energy. Both those sectors are an important part of our economy. I am very confident there is spending that not only inhibits economic growth, but, works against the new direction the USA is taking.
There is spending from past administrations that is hideous in nature. The landscape has changed. The economic collapse of 2008 has set new priorities for the country. The Budget that has accumulated in 'different times' needs to be reexamined and rethought. It is a wise move and one that will bring about 'current' insight to old ideas.
The President’s Cabinet Reporting to You
When President Obama and his Cabinet took office a year ago, they faced an array of historic challenges: an economy in freefall, job losses averaging almost 700,000 a month, a middle class under assault, two wars and badly frayed global alliances, and a staggering $1.3 trillion budget deficit.
Faced with these unparalleled challenges, the President and his Cabinet got to work. The Administration took bold steps to rescue the country from a potential second Great Depression; to rebuild the economy for the long-term -- so businesses can thrive, the middle class can grow and all our families can be more secure; and to restore America’s leadership in the world, as we wrestle with the global challenges of the 21st Century.
In short videos, members of the President’s Cabinet report back to you on their progress this first year and outline what lies ahead for their departments and agencies to keep America moving forward.