PrintSeptember 28, 2009
Graph of the Day for September 28, 2009
"Uh, y'know, I believe in the principle that you pay as you go. And, y'know, you don't propose tax cuts unless you are closing, uh, other, uh, tax breaks for individuals and you don't increase spending unless you're eliminating some spending or you're finding some new revenue. That's how we got an additional four trillion dollars worth of debt under George Bush. That is helping to undermine our economy. And it's gonna change when I'm President of the United States."
Barack Obama in the Democratic Party primary debate in Philadelphia, April 16, 2008
Source: The Washington Post, using data from the Congressional Budget Office and White House Office of Management and Budget.
Hoven's Index for September 28, 2009
The projected federal deficit from 2009 through 2019 under President Obama's proposed budget: $11 trillion, or an average of $1 trillion every year for 11 years.
Interest costs alone, over 2010-19, to fund the additional deficits caused by legislation passed in the first two months of 2009: $404 billion.
(Source: Congressional Budget Office)
