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CBO: Seeing Stars? ($1.2 Trillion Deficit Edition)
naked capitalism — ... Willem Buiter is being proven right even sooner than he probably expected. The CBO provided a simply atrocious (but I imagine not surprising if you are up on such matters) that the Federal budget deficit will come in just shy of $1.2 trillion, and that before any stimulus related deficits are added in, which are now expected to be $775 billion. ...

Putting Out Fires During Noah's Flood, Or Eyeless In Gaza Part II
Spain Economy Watch — ... While I'm on this sort of topic, Krugman has a lot of useful and interesting material on the proposed US stimulus plans. The numbers are truly impressive and awe inspiring, with the fiscal deficit set to rise to close to (or even over) 10 per cent of GDP in 2009 according to initial estimates from the Congressional Budget Office. ...

Putting Out Fire’s During Noah’s Flood, Or Eyeless In Gaza Part II
A Fistful Of Euros » A Fistful Of Euros — ... While I’m on this sort of topic, Krugman has a lot of useful and interesting material on the proposed US stimulus plans. The numbers are truly impressive and awe inspiring, with the fiscal deficit rising close to or over 10 per cent of GDP in 2009 according to initial estimates from the Congressional Budget Office. ...

Ponzi meets treasuries bubble
FT Alphaville — ... as to the ultimate destination and outcome of our “bailout nation.” Realistically, quantitative easing, a two-trillion-dollar expansion of the Fed’s balance sheet, and the near certainty of future budget deficits approaching 6-7% of GDP should alert bond investors to once again become vigilant as was the case in the 1980s and 90s. Vigilantes we should be, but that is a battle to be fought in the Treasury market where low yields offer little reward and increasing risk . Indeed, the latest numbers from the Congressional Budget Office (released on Wednesday) suggest a deficit ...

Putting Out Fires During Noah's Flood, Or Eyeless In Gaza Part II
Euro Watch — ... While I'm on this sort of topic, Krugman has a lot of useful and interesting material on the proposed US stimulus plans. The numbers are truly impressive and awe inspiring, with the fiscal deficit set to rise to close to (or even over) 10 per cent of GDP in 2009 according to initial estimates from the Congressional Budget Office. ...

Putting Out Fires During Noah's Flood, Or Eyeless In Gaza Part II
Global Economy Matters — ... While I'm on this sort of topic, Krugman has a lot of useful and interesting material on the proposed US stimulus plans. The numbers are truly impressive and awe inspiring, with the fiscal deficit set to rise to close to (or even over) 10 per cent of GDP in 2009 according to initial estimates from the Congressional Budget Office. ...

Words from the (investment) wise 1.11.08
The Big Picture — ... stimulus and the fraught state of public finances. “The CBO said that the budget deficit for the fiscal year 2009 would ‘shatter the previous post-World War Two record’ relative to the size of the US economy. Without a stimulus, it said that the deficit would reach 8.3% of gross domestic product. Its numbers imply that the proposed stimulus could push the US fiscal deficit close to or over 10% of GDP.” Source: Krishna Guha, Edward Luce and Andrew Ward, Financial Times, January 7, 2009. Financial Times: Auto sales hit fresh lows in ...