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Decreased tax revenue and high spending resulted in an unusually large budget deficit of about $1.4 trillion, well above the $407 billion projected in the FY 2009 budget. [10] A 2009 CBO report indicated that $245 billion, about half of the excess spending, was a result of the 2008 TARP bailouts. Spending increases and tax credits resulting ...
The Omnibus Appropriations Act, 2009 (H.R. 1105, Pub. L. 111–8 (text)) is an Act for the United States government that combines bills funding the operations of each of the Cabinet departments, except Defense, Homeland Security, and Veteran Affairs into a single appropriation bill.
More good news for the U.S. economy, as the nation's budget deficit narrowed to $120.3 billion in November, the U.S. Treasury Department announced Thursday. A Bloomberg News economists survey had ...
Chart of BLS job-loss data based on OFA's chart President Barack Obama and Vice President Joe Biden speak to state legislators about the implementation of the Recovery Act on March 20, 2009. The Congressional Budget Office reported in October 2009 the reasons for the changes in the 2008 and 2009 deficits, which were approximately $460 billion ...
We told you yesterday about the Congressional Budget Office’s latest update to the federal government’s fiscal outlook, which forecast that the deficit would fall to $1 trillion this year ...
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The Congressional Budget Office projected two weeks prior to Obama's first inauguration that the deficit in FY 2009 (a year budgeted by President Bush) would be $1.2 trillion and that the debt increase over the following decade would be $3.1 trillion assuming the expiration of the Bush tax cuts as scheduled in 2010, or around $6.0 trillion if ...
The current recession has stoked deep-seated fears about a declining middle class. A great collective anxiety about such a decline has been floating around for years now, and for good reason. As ...