Obama sees $1.75 trillion deficit

President B. Obama has forecast a $1.75 trillion deficit in the budget of 2009. The main goals of that budget are overhauling the healthcare system and shoring up the U.S. economy. The budget reflects the delicate balance Obama has to make between making sure there is enough money to rebuild the economy and avoid excessive pressure on long-term finances. The first fundamental mission is to restore the health of the economy with public works spending, tax cuts and bail out the troubled financial industry.

The budget also includes money for healthcare reforms and for green energy to fight the global warming.

President Obama also said that he would halve the more than $1 trillion deficit president Bush left behind. Tax increases on wealthier Americans, eliminate subsidies for cotton storage and a troop drawdown from Iraq will help to bring the deficit down to $533 billion by 2013, this is also what Obama wants to reach.

It’s going to be a big challenge for Obama to sell this budget to the Congress because he also cuts in the farm subsidies and such programs are popular in the Congress.

I think it’s going to be really difficult for Obama to get this budget true the Congress because when he cuts into popular programs he can expect a lot of opposition. Although this is a good budget, first of all it’s meant to help the economy what I think is the most important issue at this moment and secondly; finally somebody wants to do something about the inefficient healthcare system in the U.S.

It’s also very good he wants to invest in green energy because it’s a great problem in the U.S. that the people consume a lot of energy.
Also the ways of saving money are good, this means the end of the war in Iraq and President Obama wants to do something about the very high incomes of some persons.

Source: http://money.cnn.com/2009/02/26/news/economy/Obama_budget.reut/index.htm