Federal Deficit to Hit $1.5 Trillion

Thursday, January 27, 2011

The federal deficit is set to top $1.5 trillion this year. It's a huge number, but does it even mean anything anymore? Takeaway Washington correspondent Todd Zwillich says that competing budget plans are popping up all around the Capitol as lawmakers try to find ways to cut as much as possible. The Republican leadership in the House says they will cut $100 billion from the budget this fiscal year. Meanwhile, President Obama has proposed a $400 billion cut over ten years. As the Republicans look for deeper and deeper cuts, the Democrats warn that this could shock the economy back into a recession.

Guests:

Todd Zwillich

Comments [2]

ed from US

$100 billion means nothing when the deficit is $1.5 trillion.

Jan. 27 2011 06:30 PM
Peg from USA

Start with our bloated military budget first. The US does not need to fund 50% of all world military spending as it does now. We have DOUBLED our military spending since 2000. We just cannot afford to be Earth's permanent police force.

Jan. 27 2011 08:59 AM

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