Doesn't look like this administration knows anything about economics. Japan had 8 stimulus bills over 10 years and so could not get out of recession. Cancel the stimulus bill, cut taxes and do it now!

President Obama said that Washington must tighten its collective belt at a time when Americans must do the same. That is an excellent idea, and in keeping with that, I have a great solution to fix the deficit: Repeal the "stimulus" package and stop spending money that doesn't exist yet. Then, just to shake things up, we could streamline government programs, crack down on tax evaders (like Timothy Geithner), and lower tax rates for all people and businesses. If more people get to keep their own money the economy will grow. When the economy grows and the government spends no more than it takes in, and preferably less, more people get jobs, and more money is created. More people paying a lower percentage of taxes means more in tax revenues to the Government, allowing it to not increase its deficit and even pay down some of the national debt. Let's hear it for Obama's promise and my plan for fiscal responsibility! -Matt

get leaders that know how to budget money?

How can we have a deficit? Pesident Bush said he would pay for the war with all the oil revenue we would get from the Iraq. Where did all of this money go that the Republicans promised us? After 8 years of deficit spending by Bush, we can now blame Obama. Typical Republican logic.

So Dixie Dan, still Bush's fault. When can we give Obama any credit or blame?

Stop the stimulus. Make those who were given a stimulus check pay it back and lower taxes for those who produce. Enough entitlements, we can't afford them.

Hang on guys, I got this one. I seem to remember learning this from Sesame Street when I was 3:

5 oranges - 2 oranges = 3 oranges! Yippee! Hooray!

Let's apply it to the government:

Taxes - expenditures = surplus (deficit)

According to the article, the Obama administration expects the annual deficit to reach $1.5 trillion in fiscal 2010. Obama assures us the economy is recovering already. This means his expected tax revenue is based on businesses and individuals making taxable profits and personal income significantly higher than in the past year, all paying his new-and-improved higher tax rates. Will he decrease spending to ease the pressure? No! Pet projects and climate nonsense and road destruction nee job creation galore! So here's Obama's budget:

Taxes revenue based on optimistic income/profit/tax rate figures

-

Expenditures higher than this year's even by their optimistic standards, and not accounting for any new spending and unforeseen events between now and September 2010

= $1.5 trillion

Optimistically overestimated taxes - optimistically underestimated expenditures = grossly underestimated deficit that would still hold the all-time record even if we did achieve it.

Wake up, Obama supporters. You've been had.

"The deficit for the 2009 budget year, which ended on Sept. 30, set an all-time record in dollar terms of $1.42 trillion. That was $958 billion above the 2008 deficit, the previous record holder."

So while most of you blame this on our current president, try not to overlook the last sentence above: The previous record holder was $958 billion at the end of the budget year 2008. This was during Bush's term. I wonder when the record holder before that was? I'm sure there's plenty of blame to go around, but records were being broken while a Republican was in office. Let's not try to make this what it isn't.

Dixie Dan and Xscribe, BO was president in October, not shrub. BO is responsible for this; the porkulus, fully half the size of the deficit, was passed during BO's watch and at his urging.

don't forget, queen nancy and the dems had control of the house and senate from 2006. ALL spending bills MUST originate in the house. So was it all shrub's fault? No, queen nancy and clown prince harry bear responsibility as well.

shrub is culpable, but not to the extent BO is. at least shrub made the pretense of trying to reduce the deficit; BO is listening to Rahm's advice, and not letting a good crisis go to waste to push everything you want through, regardless of how detrimental it is.