Obama Budget

Congress Budget President Barack Obama is sending Congress a budget that would boost taxes on the wealthy and slash Medicare to make way for a $634 billion down payment on universal health care.

by Associated Press

Published: Thu, February 26, 2009 - 8:02 am CST Last Updated: Thu, February 26, 2009 - 8:33 am CST

WASHINGTON (AP) - President Barack Obama is sending Congress a
budget that would boost taxes on the wealthy and slash Medicare to
make way for a $634 billion down payment on universal health care.
Obama's first budget predicts the deficit for this year will
soar to a whopping $1.75 trillion, reflecting spending to pull the
nation out of recession. The numbers come from administration
officials who spoke on condition of anonymity before the budget is
publicly unveiled Thursday.
As part of the effort to end the financial crisis, the
administration will propose boosting the budget deficit by $250
billion this year. As much as $750 billion more could be spent
under the government's financial rescue program. That would more
than double the $700 billion bailout effort.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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rolltide33 Says:

Fri, Feb 27, 2009 at 8:52 am

Looks like we are both too optomistic.

Wait4Me Says:

Fri, Feb 27, 2009 at 8:40 am

Opened on a downward spiral, I’m going for 6980

rolltide33 Says:

Fri, Feb 27, 2009 at 8:02 am

Im Predicting 7015 at close today.

BamaBob Says:

Thu, Feb 26, 2009 at 3:29 pm

It was a roller coaster again today. Tomorrow will probably be a slow trading day, but I don’t expect much of an upside. My bets are that Monday will be extremely volatile.

rolltide33 Says:

Thu, Feb 26, 2009 at 3:23 pm

Looks like Bama and I tied on the closing numbers… We will try again tomorrow. I think we will see below 7100 for sure.

rolltide33 Says:

Thu, Feb 26, 2009 at 2:42 pm

I applied the Treasury’s “Stress Test” to my personal checking and savings. My accounts did’t pas the test… can I get some bailout?

BamaBob Says:

Thu, Feb 26, 2009 at 2:38 pm

Got to have something to do with all the money planned to go to the banks this next go around.

rolltide33 Says:

Thu, Feb 26, 2009 at 2:32 pm

NASDAQ has taken it on the chin this afternoon. Wonder why the dow has not followed suit?