"Trillion dollar deficits for years to come, even with an economic recovery."
Should we get Bernanke a truss?
Yikes!
Obama Says Deficit Likely to Approach $1 Trillion
By Julianna Goldman and Roger Runningen
Jan. 6 (Bloomberg) -- President-elect Barack Obama said he expects to inherit a $1 trillion budget deficit and that similar shortfalls are in store “for years to come” as the government grapples with a recession and other spending demands.
A “trillion dollar deficit will be here before we even start the next budget,” Obama said after meeting in Washington with his economic advisers, including Peter Orszag, who has been designated as director of the Office of Management and Budget.
“Potentially we’ve got trillion-dollar deficits for years to come, even with the economic recovery we are working on...”
"A new, invisible and at times virtual, tyranny is established, one which unilaterally and irremediably imposes its own laws and rules. Moreover, indebtedness and credit distance countries from their real economy and citizens from their real buying power. Added to this, as if it were needed, is widespread corruption and selfish fiscal evasion which have taken on worldwide dimensions. The will to power and of possession has become limitless." Francis I, 16 May 2013