Safe Mode: On
Federal deficit soars, but McCain, Obama offer no answers

Another diamond among the coal. How are they going to pay for it all?


Source

By David Lightman and Kevin G. Hall | McClatchy Newspapers
WASHINGTON — Just weeks before the government's fiscal year ends Sept. 30, the nonpartisan Congressional Budget Office on Tuesday projected a near-record federal budget deficit of $407 billion, sharply higher than White House projections six weeks ago and more than double last year's figure.

Mammoth federal-budget deficits feed inflation, make America dependent on foreign lenders, cost taxpayers hundreds of billions of dollars in interest payments on the growing national debt and drain capital savings from more productive investments.

The widening gap between what the government spends and the revenue it brings in is sure to weigh on the next president and impede his e

-

Added: Sep-10-2008 
By: jayboulware
In:
News
Tags: Deficit, McCain, Obama
Views: 8798 | Comments: 21 | Votes: 1 | Favorites: 1 | Shared: 1 | Updates: 0 | Times used in channels: 1
You need to be registered in order to add comments! Register HERE
Sort by: Newest first | Oldest first | Highest score first
Liveleak opposes racial slurs - if you do spot comments that fall into this category, please report them for us to review.
  • Mccain wants to continue using $3,000,000,000 a week in Iraq.

    Mccain wants to tax the poor and give to the rich.

    Mccain wants to use billions on 'star wars' weapons.

    Mccain wants to bomb Iran.

    Posted Sep-10-2008 By 

    (2) | Report

    • could he have said some of gb's tax cuts were good and some of them were bad. which means to me, he has some logical thinking going on in his head. they don't all have to be good or bad, maybe a little of both. is that to logical for you?

      Posted Sep-10-2008 By 

      (0) | Report

    • And Obamas plan will cost us 2 Trillion on taxes alone. Not to mention whatever we do with the current wars.

      Posted Sep-10-2008 By 

      (-1) | Report

    • "The Tax Policy Center estimates that over 10 years, McCain's tax proposals could increase the national debt by as much as $4.5 trillion with interest"

      http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc/?postversion=2008061113

      Obamas tax proposals save $1,3 trillion.

      ===

      Osama also has America out of Iraq saving $3,000,000,000 a week.

      Posted Sep-10-2008 By 

      (0) | Report

    • * oops Obamas tax plan saves 1,3 trillion compared to Mccains

      Posted Sep-10-2008 By 

      (0) | Report

    • I'm sorry, but I dont get my tax info from CNN. Just my accountant who studies this for a living. And really until you start living here and paying taxes like I do, along with my business tax, your comment means nothing to me. I can post links to pastisan estimates also.

      Posted Sep-10-2008 By 

      (0) | Report

  • They play by the old game book. Never admit any weakness in an election. Never bring up any bad news. Pretend everyone is becoming richer, happier, sexier, younger, less fat, etc.

    Posted Sep-10-2008 By 

    (1) | Report

  • HAVE A CLOSE LISTEN TO THIS UNFOLDING INFO.


    http://www.youtube.com/watch?v=8npeYfKI_ns

    Posted Sep-10-2008 By 

    (0) | Report

  • Obama wants to raise the tax bar for the rich.

    Obama wants to stop giving all these forgien countries who talk shit to us Financial Aid.

    Obama Wants to bring the troops home and stop the stupid wasteful spending of billions per week in Iraq.

    Obama wants to go back to Bill Clinton income taxing style. (remember, when Bill Clinton left office, the United states didnt have a Deficit, in fact we had a surplus)

    Its clear who will fix the deficit problem.

    But it doesnt matter. Women will vote for More..

    Posted Sep-10-2008 By 

    (0) | Report

    • Oh No! You did not just say that!

      "This election is a joke. WOmen shouldnt be allowed to vote."

      I'm coining a new term here Neo-Lib, They stand for the return to the lib values of the 1890's

      Posted Sep-10-2008 By 

      (0) | Report

    • Comment of user 'jsczerby' has been deleted by author (after account deletion)!
    • And here I thought I was being cutting edge on naming a new trend!

      Posted Sep-10-2008 By 

      (0) | Report

    • Comment of user 'jsczerby' has been deleted by author (after account deletion)!
  • First he says one thing, than another: Bush tax cuts bad, Bush tax cuts good; the Surge in Iraq bad, the Surge in Iraq good; we should talk to our enemies without preconditions, we should definitely have preconditions; the war on terrorism is flawed and warmongering, the war on terrorism is a serious threat... On and on and on!

    everything you just said represents a man thinking about things before making a final decision. do you think about things before making a final decision or just go wi More..

    Posted Sep-10-2008 By 

    (0) | Report

  • "measure twice, cut once"

    Posted Sep-10-2008 By 

    (0) | Report

  • thank the Bush administration for turning the surplus into a record deficit

    2 occupations and a trillion dollars later, here we are

    F 'em

    Posted Sep-10-2008 By 

    (0) | Report