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2010 better than 2009?

By Jodi Westrick  |  December 31, 2009; 1:58 PM ET  | Category:  Local , National Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati  
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The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.
The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement.

Ten-year forecasts are volatile figures subject to change over time. But the higher number will likely create political difficulties for President Obama in Congress and could create anxiety with foreign buyers of U.S. debt.

Posted by: lucygirl1 | January 1, 2010 11:40 AM

I am hopeful this recession will take the form of a V shape. It already appears to be so for the leading economic indicators. It is my fervent hope that 2010 will be the year for lagging indicators to catch up. Based on this I feel that 2010 will be better than 2009.

I share the concern of a spiraling budget deficit and hope that our political leadership on both sides will finally understand that ordinary Americans are deeply concerned about the national debt. However, I am still pretty sure that America is in its declining period as an empire and the prosperity of the post WWII period is gone forever.

Posted by: mraymond10 | January 1, 2010 4:53 PM

We will definately have better year in 2010 than 2009, the problems we have today are almost all due to Bush's handling of our national affairs,economy, international policy, national security, and etc. With Obama in control things will be turned around, slowly but surely, as long as we trust him and not let GOP members to destroy him for their own greedy and selfish. egoes.

Posted by: johnycheng1 | January 1, 2010 11:43 PM

Will Americans grow up, put the politics of slash and burn behind behind them and quit with the ranting, spitting, and lying?

Probably not.

Posted by: arancia12 | January 2, 2010 12:02 AM

Anyone who is paying attention knows that Obama ran a bait-and-switch campaign and is proving to be an incompetent leader and president. A true leader let's others blame their predecessor and takes full responsibility for what he inherits, quite the opposite of Obama. The WH's first response to the attempted airline bombing was to send the research staff to find anything similar that happened during the Bush years. It will be a long 2010.

Posted by: josettes | January 2, 2010 2:40 AM

As bad as 2009 was, much effort was spent trying to keep the wheels from coming off completely, and it was successful. That may not be the case in 2010.

The economy will continue to sputter, at best, and possibly tank as banks and other financial institutions continue down similar roads to what got us into the mess. Until unemployment starts dropping, as far as most Americans lives are concerned, the economy is still perilous.

States and localities are running heavily in the red. Cuts in social services and community maintenance will bring greater instability, higher fees and taxes and lower quality of life.

As unemployment continues to rise, crime will increase.

Recent terrorist activity suggests an increased push from Al-Qaeda and their ilk.

There is a significant paradigm shift underway, driven by the rise of the internet and the increased power of the individual consumer, but the old power structure refuses to shift -- there is still too much emphasis on oil over alternative energy, partisanship over statesmanship, capitalist greed over compassionate capitalism.

I fear until something truly major and horrible happens to shock the American people into a true spirit of sacrifice for a higher cause, things will continue to worsen, particularly when the president seems to be governing like a complacent, moderate conservative.

Honestly, I expect 2010 to suck. Sorry.

Posted by: AdHack | January 2, 2010 1:32 PM

I expect that if Walmart and Walgreens sold suicide kits, business for 2010 would be excellent.

Posted by: dlkimura | January 2, 2010 8:15 PM

Bold Prediction for 2010: With poll numbers below 45% and midterm elections looming like an iceberg in the path of the Democratic ship, Obama throws a Hail Mary to his lunatic base and prosecutes Bush -Cheney. The defendants, as one part of their defense claim the Obama administration lacks Constitutional Authority. The country will be torn apart, fulfilling the design of Obama et al.

Posted by: pauldia | January 2, 2010 9:27 PM

Not in the slightest.

Let me clarify: It would be "better" if by that you mean those things in which the idiots at the Washington Post Editorial Board see "good" ... such in every frickin' Wall Street multi-billion dollar bailout and think every "Free Trade" agreement that sends another 10,000 working class families into the nightmare maw of the corporate fascist system that has become this country and its ways.

In all honesty, the only thing that could make 2010 better than 2009 here in D.C. is for this useless newspaper to go bankrupt financially -- but that is still about 5 to 10 years away.

As for 2010, I'm looking forward to the Democratic party election wipe-out this November. How richly deserved. Personally, that will be the highlight of my year.

Posted by: RegulusArcturus | January 3, 2010 4:04 AM

TEA PARTY REVOLT says no money for Obamaland for as long as it takes .

Posted by: dottydo | January 3, 2010 10:54 PM

RegulusArcturus said: "In all honesty, the only thing that could make 2010 better than 2009 here in D.C. is for this useless newspaper to go bankrupt financially -- but that is still about 5 to 10 years away."

And just who is forcing you to read this "useless" paper? If you believe it to be useless, and read it anyway, then by your own admission you are a person who engages in useless activities. In light of that, I'm having a hard time understanding why anyone should care what you think.

Posted by: tomguy1 | January 4, 2010 11:52 AM

Obama peaked as a bench warmer on his high school basketball team and has since faked his way through life.

We are now paying the price for electing an incompetent and corrupt fraud.

Posted by: Jerzy | January 4, 2010 3:08 PM

The current administration is absolutely clueless. The economy and national security are both going in the tank. The next three years are going to very long and troublesome.

Posted by: richard36 | January 4, 2010 3:22 PM

It will be difficult to have a robust recovery while housing and commercial real estate are depressed. The decline has sapped a principal source of wealth for U.S. consumers, whose spending is the key driver of the country's growth pattern. The steep drop in home prices has also boosted their propensity to save.
It's very hard to see what will replace it, but BIG Government has never been the solution – but, rather, the problem. One reason is that U.S. consumers remain heavily indebted. Another is that many of the country's largest banks are still largely dependent on funding from the U.S. Federal Reserve and the implicit backing of the Treasury Department.
Government programs giving large financial institutions access to zero-cost borrowing as artificially padding their bottom lines.There's something of an illusion of profitability.

Posted by: jahoby | January 4, 2010 3:56 PM

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