Nevertheless, the fact remains: Together with the economic downturn, the Bush tax cuts and the wars in Afghanistan and Iraq explain virtually the entire deficit over the next ten years (see Figure 1).
The deficit for fiscal year 2009 was $1.4 trillion and, at nearly 10 percent of Gross Domestic Product (GDP), was the largest deficit relative to the size of the economy since the end of World War II. If current policies are continued without changes, deficits will likely approach those figures in 2010 and remain near $1 trillion a year for the next decade.
Answer by mommom2000 at 8:06 PM on Aug. 2, 2010
And BTW, WHAT caused the huge deficit under Obama and the NEED for the budget? WHAT factors contributed?
Because it makes TOTAL sense to SPEND your way out of debt.......
Answer by momof030404 at 5:45 PM on Aug. 2, 2010
Answer by LoriKeet at 6:37 PM on Aug. 2, 2010
Answer by yourspecialkid at 4:10 PM on Aug. 2, 2010
Really?! You want to continue to blame Bush for our dismal economy?! Wow. Just wow.
Answer by LoriKeet at 4:11 PM on Aug. 2, 2010
Answer by Sisteract at 4:53 PM on Aug. 2, 2010
Answer by gertie41 at 5:09 PM on Aug. 2, 2010
Answer by miriamz at 6:18 PM on Aug. 2, 2010
Answer by yourspecialkid at 9:47 PM on Aug. 2, 2010
I also paid my quarterly taxes last week. I am well aware of how it works. I am glad that your business is making over $200,000. If you are good for you. If you aren't which is more likely then your taxes aren't going to change. You probably already got your tax break like my business did when I do payroll. Over 95% of small businesses will not be affected.
Answer by mommom2000 at 10:42 PM on Aug. 2, 2010
Next question overall
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