The Budget Deficit – Briefly Explained

When speaking of the new 2009 budget submitted by the Whitehouse, claims seem to be wildly overstated.

When taking office, the Obama Administration inherited a $1.3 trillion yearly deficit.  That includes the costs of the wars.

The new budget submitted by the Obama Administration extends that to $1.8 trillion.  That means the changes and additions to the budget come to “only” $500 billion, or .5 trillion more that what was inherited.  Not bad, considering the first round of TARP funds sought and approved by the Bush Administration was $700 billion, alone.

Posted under Energy, Healthcare, Keeping Informed, Stimulus, Taxes

This post was written by PoliticsRX on April 1, 2009

Obama administration launches housing plan

President Obama has unleashed a program to help “financially viable” homeowners refinance their existing mortgages.  Additionally, homeowners with mortgages controlled by Fannie Mae and Freddie Mac will be eligable to refinance through June, 2010.

Read More: Obama administration launches housing plan.

Read More: Obama’s Refinance Plan released as scheduled.

Posted under Government Bailout, Keeping Informed, Stimulus

This post was written by PoliticsRX on March 4, 2009

Obama to “Call Out” any mis-use of stimulus money

President Barack Obama asserts that he will “call out” any mayors who mis-use the Federal stimulus-package funds.  Budget chief released details on how use is to be reported, implying the system is streamlined for transparency on Recovery.gov.

Read More: Obama: Stimulus money must be spent wisely – White House- msnbc.com.

Posted under Corruption, Keeping Informed, Stimulus

This post was written by PoliticsRX on February 20, 2009