Obama's budget increases 2012 deficit by a third. Yes, that's correct. President Obama submitted his proposed 2012 budget this past Monday. This budget produces a $1.1 trillion deficit for 2012. This deficit is 33 percent higher than his 2011 budget projection, which targeted the 2012 deficit at $828 billion. This higher 2012 deficit is equivalent to $3,217 per person in the United States (based on the U.S. Census Bureau's population clock).
This year's forecast of the 2011 deficit is $1.6 trillion, 30 percent higher than Obama's 2011-budgeted deficit of $1.3 trillion.
Thursday, February 17, 2011
Posted by traderrob at 4:58 AM