news / politics

USA Budget Problems

sad_manHeadline:

Americans Increasingly Skeptical of Obama’s Pledge of Fiscal Discipline as Deficit Grows

With each spending proposal President Obama rolls out, the deficit grows astronomically and the American people are growing more concerned.

The Polls

Despite Obama making this pledge over and over again in past weeks, a series of recent polls indicate that Americans aren’t convinced:

– A New York Times/CBS News poll shows 60 percent of Americans do not believe the president has a strategy to reduce the deficit.

– A Wall Street Journal/NBC poll says 58 percent of Americans want the president to make controlling the deficit a higher priority than a speedy economic recovery.

– A Pew Research Center poll indicates 55 percent of Americans are optimistic the president will eventually reduce the budget deficit, but that’s a smaller number than the 61 percent of people who approve of him generally.

Why?

  • $38 billion for the State Children’s Health Insurance Program Reauthorization between 2010 and 2019
  • $787 billion fiscal stimulus bill
  • $75 billion homeowner stability program
  • $125 billion “place holder” of additional financial stabilization funds (if needed)
  • $22 billion for Cap and Trade program in 2020
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