“… we cannot simply spend as we please and defer the consequences to the next budget, next administration or the next generation. We are paying the prices for this deficit right now.” -- President Barack Obama (CNN)

U.S. President Barack Obama announces he will cut the country’s budget deficit in half by the end of his first term.

Hello I’m Charlotte Bellis and you’re watching Newsy.com.
That was video from CNN.
We’re also following perspectives from NPR and MSNBC.

NPR wonders about the contradictory appearance of spending on the stimulus package while making a pledge to reduce deficit spending.

“A week ago the president was putting his signature on a package of bills worth $787 billion, adding more red ink to this year’s deficit, Then yesterday, he was preaching restraint and fiscal responsibility, promising to cut the deficit in half by the end of his first term.” (NPR)

Newsweek’s Howard Fineman tells MSNBC that a continuing deficit will only feed inflation…

“That if we keep borrowing money endlessly, if we keep running up the deficits each year and the debt, then eventually we’re going to pay for it in terms of the value of the dollar. . . this is enough to scare the markets.” (MSNBC)

CNN’s Chief Business Correspondent Ali Velshi works to break down exactly where the money is going.

“These are the kind of things that make up government spending in 2009. Of this big pie, really two-thirds of it are things that they don’t really have a lot of wiggle room on…”
“You can identify with this in your own budget where there are some things that have to be paid, and there are some things that can be played with…”
“But the issue is when you have a deficit, you have to spend less than you bring in…”
“The accumulations of all these deficits accumulate and become the national debt. The national debt is now $10.8 trillion…”
(CNN)

Also on CNN, another expert takes the perspective that President Obama will have to raise the confidence of the American public to reduce the deficit.

“To get his stimulus bill passed, president Obama had to concentrate on that first part, the fear quotient.  And the public shows that sunk in. They’re sacred as heck. But now to make his plan work, he likely has to energize that second part, the confidence factor. So that people can spend and make this plan work.”
(CNN)

Are you confident in the way the government is handling its spending? Do you think the current administration can cut the deficit in half by the end of 2013?

Please share your thoughts and ideas with us, and be sure to check out our sources. SOC

I’m Charlotte Bellis for Newsy.com, where multiple perspectives tell the real story.



Trillion Dollar Question for the U.S.

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Sources:CNNNPR
Transcript
Feb 24, 2009

Trillion Dollar Question for the U.S.

“… we cannot simply spend as we please and defer the consequences to the next budget, next administration or the next generation. We are paying the prices for this deficit right now.” -- President Barack Obama (CNN)

U.S. President Barack Obama announces he will cut the country’s budget deficit in half by the end of his first term.

Hello I’m Charlotte Bellis and you’re watching Newsy.com.
That was video from CNN.
We’re also following perspectives from NPR and MSNBC.

NPR wonders about the contradictory appearance of spending on the stimulus package while making a pledge to reduce deficit spending.

“A week ago the president was putting his signature on a package of bills worth $787 billion, adding more red ink to this year’s deficit, Then yesterday, he was preaching restraint and fiscal responsibility, promising to cut the deficit in half by the end of his first term.” (NPR)

Newsweek’s Howard Fineman tells MSNBC that a continuing deficit will only feed inflation…

“That if we keep borrowing money endlessly, if we keep running up the deficits each year and the debt, then eventually we’re going to pay for it in terms of the value of the dollar. . . this is enough to scare the markets.” (MSNBC)

CNN’s Chief Business Correspondent Ali Velshi works to break down exactly where the money is going.

“These are the kind of things that make up government spending in 2009. Of this big pie, really two-thirds of it are things that they don’t really have a lot of wiggle room on…”
“You can identify with this in your own budget where there are some things that have to be paid, and there are some things that can be played with…”
“But the issue is when you have a deficit, you have to spend less than you bring in…”
“The accumulations of all these deficits accumulate and become the national debt. The national debt is now $10.8 trillion…”
(CNN)

Also on CNN, another expert takes the perspective that President Obama will have to raise the confidence of the American public to reduce the deficit.

“To get his stimulus bill passed, president Obama had to concentrate on that first part, the fear quotient.  And the public shows that sunk in. They’re sacred as heck. But now to make his plan work, he likely has to energize that second part, the confidence factor. So that people can spend and make this plan work.”
(CNN)

Are you confident in the way the government is handling its spending? Do you think the current administration can cut the deficit in half by the end of 2013?

Please share your thoughts and ideas with us, and be sure to check out our sources. SOC

I’m Charlotte Bellis for Newsy.com, where multiple perspectives tell the real story.



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