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Obama proposes $1.6 trillion deficit, blames Bush
Remember how all the Obamabots told us that the record $1.3 trillion deficit in 2009 was all Bush's fault (despite the fact that he had left office). Well now Obama's 2010 budget proposal has a $1.6 trillion budget deficit. I guess Bush is more powerful then we could have possibly imagined to still be running things at this point. 
Quote:
http://www.reuters.com/article/idUSTRE60U1PZ20100131
In its budget proposal to be released on Monday, the White House predicts a record $1.6 trillion budget deficit for the fiscal year that ends September 30, the Capitol Hill source said.
According to the estimate, deficits will narrow to $700 billion by fiscal 2013 before gradually rising back to $1.0 trillion by the end of the decade, the source said.
President Barack Obama will seek to strike a balance between reducing the deficit over the long term and stimulating the economy in the short term to ease the pain of double-digit unemployment.
Criticized by Republicans as a big spender, Obama used his State of the Union address last week to tell Americans he would dig the country out of a "massive fiscal hole."
That hole is even deeper than previously believed, according to the estimate by the White House's Office of Management and Budget.
The estimate for the current fiscal year is significantly higher than the $1.35 trillion figure forecast by the nonpartisan Congressional Budget Office last week.
Despite the difference, both estimates indicate that the deficit will continue to hover at a level not seen since World War Two, when measured as a percentage of the economy. Last year the government posted a $1.4 trillion deficit.
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