nytimes.com - 1/7/2009
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Barack Obama sought to distinguish between the need to run big deficits for several years and the need to reduce them later. >
acrossthecurve.com - 1/8/2009
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acrossthecurve.com —
President-elect Obama will provide details of his stimulus
package in a speech in Virginia at 1100AM. The
package is expected to total around $800 billion. The Congressional Budget Office projects a fiscal year deficit of $1.2 trillion. However, that figure does not include the loss of ...
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Overweight Fiscal? (The Obama Economic Plan)
The Baseline Scenario —
... Most of the current discussion regarding the Obama Economic Plan focuses on whether the fiscal stimulus should be somewhat larger or smaller ($650-800bn seems the current range) and the composition between spending and tax cuts. President Obama stressed on Tuesday that trillion dollar deficits are here to stay for several years, and it looks like part of the arguing in the Senate will be about whether this is a good idea. ...
It’s Much Worse Than I Thought
EconomistMom.com —
... I look like a real Pollyanna in today’s New York Times where I’m cited as “estimating” (way too generous a word) a 7 percent of GDP federal budget deficit for fiscal year 2009. Hah! This morning I learn from the ...
What Trillion Dollar Deficits Mean for the Markets
Trading Goddess —
The New York Times has an article this week reporting on US President-elect Barack Obama's warning that there will be trillion-dollar deficits for years to come." What's that mean for the markets? ...
Meet the New Boss…
Cato @ Liberty —
... (oh, the irony) today, President-elect Barack Obama urged “Congress to act without delay” to pass his still-undisclosed economic stimulus package, with a pricetag that’s drifting toward $800 billion. ...
Did the New Deal ‘Help’?
Cato @ Liberty —
... However, this borrowing was not dramatic by today’s standards. As a share of GDP, the New Deal deficit peaked at 5.4 percent of GDP ($3.6 billion) in 1934; in dollar terms, it peaked at $5.1 billion (4.3 percent of GDP) in 1936. In contrast, President-elect Obama recently announced that he expects ”trillion-dollar deficits for years to come,” even without the $800 billion stimulus package that his administration is preparing. With a U.S. GDP of roughly $13.8 trillion, the Obama-projected deficit (not counting the stimulus package) ...
Related Content
Obama budget could bring $9.3 trillion in deficits
news.yahoo.com 4/3/2009 — President Barack Obama makes remarks to representatives of the National AP President Barack Obama makes remarks to representatives of the National Conference of State Legislatures,
How Trillion-Dollar Deficits Were Created
ritholtz.com 6/10/2009 — Today’s must read article is a front page NYT story by David Leonhardt. It looks at the process by which boom time surpluses were turned into boom time deficits, and then even greater crash deficits.
The two economic takeaways from the piece ...
Obama stimulus could reach $1 trillion: report
| U.S.
reuters.com 12/15/2008 — NEW YORK (Reuters) - President-elect Barack Obama's team is considering a plan to boost the recession-hit U.S. economy that could be far larger than previous estimates and might reach $1 trillion over two years, the Wall Street Journal reported on ...
Barack Obama unveils $1 trillion economic stimulus package
telegraph.co.uk 12/8/2008 — President-elect Barack Obama has warned that things are going to get worse before they get better as he outlined details of an economic stimulus package that could reach $1 trillion and is designed to lift the United States out of recession.
US Dollar at Multi-Year High
bespokeinvest.typepad.com 3/8/2009 — Trillion dollar bailouts, trillion dollar deficits, and the largest spending bill in US history. These days, one would think that with all this spending, the US Dollar would be as popular as a Wall Street CEO. However, this morning, the US Dollar ...
Obama considers $1 trillion plan to jolt economy | AP | 12/17/2008
philly.com 12/19/2008 — WASHINGTON - Anxious to jolt the economy back to life, President-elect Barack Obama is considering a federal stimulus package that could reach a whopping $1 trillion, dwarfing last spring's tax rebates and rivaling drastic government actions to fight ...
Barack Obama, Barack Hussein Obama -
chicagotribune.com 12/10/2008 — Barack Obama talks to Tribune Barack Obama says his heart will remain in Chicago, even as he moves to Washington. ( Alex Garcia / Tribune / December 9, 2008)
$1 trillion rescue: Not so far-fetched - Dec. 5, 2008
money.cnn.com 12/5/2008 — NEW YORK (CNNMoney.com) -- President-elect Barack Obama hasn't put a dollar figure yet on his promise to create an economic recovery package that he says will generate or save 2.5 million jobs over two years. His reluctance may be with good reason: ...
One Trillion A Year?
market-ticker.denninger.net 1/7/2009 —
Change we can believe in? Where? This is Obama's idea of "change": WASHINGTON (AP) - President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur ...
Understimulated —
The Big Money 1/7/2009
Washington officials can't say for sure how many people are coming to town for Barack Obama's inauguration. Estimates have ranged from 2 million to 4 million .
read more
Transitional woes: Reality check —
The Economist: Full print edition 1/8/2009
The Democrats are hitting a few speed bumps ON JANUARY 6th Fred Thompson, a former senator and actor, glad-handed his way across the Senate floor. Edward Kennedy, who suffers from a brain tumour, strode up and down its aisles. And the 91-year-old ...
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