According to the 2009 budget Barack Obama is sending to congress today, the United States will have a $1.75 trillion deficit this year. The figure represents 12.3 percent of estimated gross domestic product, double the previous post-war record of 6 percent in 1983, and the highest level since the deficit totaled 21.5 percent of GDP in 1945, at the end of World War II. It seems the numbers are about to start getting let out of the bag, and it will be interesting to see how the markets react.
This entry was posted on Thursday, February 26th, 2009 at 7:33 pm and is filed under Front Page, Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.