Day: February 16, 2011

Making Matters Worse

It’s huge. It’s mind-boggling. It’s the Obama administration’s new budget proposal. A decidedly non-conservative source—the Associated Press—warned, Not since World War II has the federal budget deficit made up such a big chunk of the U.S. economy. And within two or three years, economists fear the result could be sharply higher interest rates that would slow economic growth. What led the AP to issue such a dramatic prognosis? The new Obama budget calls for a record deficit of $1.65 trillion… Read more »