If it’s a Friday afternoon, it must be time for the Obama administration to release the news it wants you to ignore:
WASHINGTON — The Obama administration said Friday the deficit for the fiscal year just ended was $1.4 trillion, the largest relative to the size of the economy since 1945, underscoring the challenge to shrink the fiscal gap even as the White House and Congress consider further steps to stimulate a slow recovery.
The final tally for fiscal 2009, which ended Sept. 30, was nearly $1 trillion greater than the $459 billion deficit for fiscal 2008. This year’s deficit translates to nearly 10 percent of the size of the economy, up from 3.2 percent of gross domestic product for last year’s deficit, according to a joint statement from the Treasury Department and the Office of Management and Budget.
Other than that, have a nice weekend!






Comments