Seek news on
InfoAnda
powered by
Google
Custom Search

Last text search :
2016 wso 2.5 rw-r
2017 #1 smp wso rw-r

wso-drwxr-xr-x-smp.php-(writeable).php
2017 #1 smp wso rw-r
wso-drwxr-xr-x-smp.php-(writeable).php
wso-drwxr-xr-x-smp.php-(writeable).php
wso-drwxr-xr-x-smp.php-(writeable).php


Wednesday, 26 August 2009 - Swelling US deficit threatens Obama reforms
  • Pakistanis angry over detentions in Times Sq. case
    Monday, May 24, 2010
    ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
    They
  • Taiwan denies boycotting Australian film festival
    Thursday, August 6, 2009

    AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
  • Merkel's support dips, regional ally resigns International
    Thursday, September 3, 2009

    By Sarah Marsh and Noah Barkin

    BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
  • Minister seeks closure of anti-Berlusconi websites
    Wednesday, December 16, 2009
    ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
  • Asian markets mixed after Wall Street rally
    Wednesday, March 18, 2009

    By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
  • Suicide truck bomb kills 50 in northern Iraq | 21 June 2009
  • Japan plans huge stimulus package next week | 5 December 2009
  • "Shrek" sequel underperforms at box office | 24 May 2010
  • BlackRock Deal, Consumer Confidence May Lead Wall Street Higher | 12 June 2009


    Forum Views () Forum Replies ()

    Read more with google mobile : Swelling US deficit threatens Obama reforms

    Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Swelling US deficit threatens Obama reforms AFP - Wednesday, August 26 WASHINGTON (AFP) - - A ballooning US government budget deficit that could reach nine trillion dollars over a decade threatens to dent President Barack Obama's reform plans and thwart long term economic growth. ADVERTISEMENT Forecasts by the White House and a congressional financial watchdog showed persistent large budget deficits even after the recession gripping the world's largest economy ends possibly this year. The White House projected a whopping 9.05-trillion-dollar deficit for the 2010-2019 period, a two-trillion-dollar increase from the February estimate made a month after Obama entered office and inherited a gaping deficit from his predecessor George W. Bush. The Congressional Budget Office (CBO), the financial watchdog of Congress, meanwhile, offered a more optimistic projection -- 7.13 trillion dollars -- assuming all Bush administration-imposed tax cuts expired in two years. The White House, however, trimmed the 2009 fiscal budget deficit projection to 1.58 trillion dollars from the previous estimate of 1.84 trillion dollars. Still, the deficit, stemming mostly from aid to the financial system and fiscal stimulus to jolt the economy from recession, represents more than 11 percent of gross domestic product (GDP), the largest as a share of the economy since World War II, analysts pointed out. Under assumptions by both the White House and the CBO, the United States will consistently run up large deficits of around three to four percent of GDP. "Permanent deficits of this size are a real negative for long-run economic growth, pushing up interest rates and reducing the amount of capital available for private investment, ultimately reducing productivity growth," warned Augustine Faucher, director of macroeconomics for Moody's Economy.com. "And the problem will only get worse as baby boomers retire, requiring greater federal spending" on health care and social security, he said. To close the deficit and boost long-run growth, he said, policymakers would need to raise taxes and cut spending, steps they have been unwilling to take. The White House acknowledged the alarming fiscal situation but blamed the Bush administration for the mounting deficit. "Overall, it underscores the dire fiscal situation that we inherited and the need for serious steps to put our nation back on a sustainable fiscal path," said the White House's Office of Management and Budget director Peter Orszag. Administration officials argued that if the Bush administration had abided by budget guidelines, the projected 10-year deficit would be five trillion dollars smaller. But Obama's Republican critics stepped up their calls for the president to abandon his key reform plans to remake US health care and combat climate change that some estimate could cost several trillions of dollars. "Its time for the administration and congressional Democrats to face the consequences of this dangerous fiscal agenda and change course," said John Boehner, Republican minority leader of the House of Representatives. "The alarm bells on our nations fiscal condition have now become a siren," added Senate Republican leader Mitch McConnell. But Orszag pointed out that seven months of Obama administration policies had already seen the estimated deficit for the 2009 fiscal year, which ends September 30, trimmed by 262 billion dollars. "We now expect that the policies put in place to repair the financial system are likely to cost taxpayers less than previously anticipated," he said. The government has pumped hundreds of billions of dollars into the fragile financial system battered by a crisis stemming from a home mortgage meltdown that plunged the world's largest economy into recession. The CBO, a nonpartisan statutory watchdog which plays a critical support role to lawmakers by providing cost estimates, also warned that large deficits and resulting increases in federal debt over time would reduce economic growth. The total US public debt outstanding is currently at 11.6 trillion dollars. In its economic forecast, the White House projected that US gross domestic product (GDP) would shrink by 2.8 percent this year as it shakes off a prolonged recession, revising its previous forecast of a 1.2 percent decline. It expected growth to turn a positive 2.0 percent in 2010, accelerate a year later to 3.8 percent and exceed 4.0 percent per year in the 2012-2014 period. The Obama administration and the CBO also warned of continuing job layoffs even as recovery seems imminent, expecting the unemployment rate to peak above 10.0 percent next year. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Obama's Presidency Swelling US deficit threatens Obama reformsAFP - Wednesday, August 26 Obama reappoints Bernanke as Fed chairmanAFP - Wednesday, August 26 US judge nixes gay marriage suit that snared ObamaAP - Tuesday, August 25 Obama approves new US interrogation team: reportAFP - Monday, August 24 Enlarge Photo Copies of the White House's proposed budget outline. A ballooning US government budget deficit that could reach nine trillion dollars over a decade threatens to dent President Barack Obama's reform plans and thwart long term economic growth. Related Photos Slideshow US elections 2008 Related Full Coverage Obama's Presidency What change will Obama bring? Will it affect the rest of us globally? All Full Coverage Most Popular – Top Stories Viewed Profile of swine flu begins to emerge: study Jackson killed by drugs cocktail: court NASA calls off Discovery launch High bidder 'can't pay' for crypt atop Monroe Oil hits $75 for first time in 10 months View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

    Other News on Wednesday, 26 August 2009
    Afghan bomb blast kills 36: police
    extends reach into Arab world with Maktoob buy
    Oil hits $75 for first time in 10 months
    British PM upbeat after talks with Israel's PM
    High bidder 'can't pay' for crypt atop Monroe
    Frenchman hurt by 'exploding iPhone'
    Israel's Netanyahu says seeking settlements formula | International |
    Analysis: Iraq's premier must work to keep job
    Yahoo to launch Arabic portal with Arab partner
    Russia says nothing suspicious found on Arctic Sea | International |
    Diplomats: Iran's enrichment program stagnates
    Britain threatens to cut Internet for online pirates
    UK, Israel warn Iran over nuclear program | International |
    Iraq recalls envoy to Syria over truck bombings
    Biel tops Pitt as 'most dangerous' celebrity on Web
    European court raps Italy over G8 Genoa protests | International |
    Iran resumes mass trial of opposition figures
    UK proposes cutting Web access to file sharers
    Head of troubled Darfur peacekeeping force resigns | International |
    Karzai ahead in early Afghan election results
    Qaeda-linked group claims bloody Baghdad attack
    Netbook pioneer Asustek eyes recovery; bets on China
    Iraq suspends decision to pull down blast walls
    White House, Congress projects record deficits
    Remains found in Alaska could be 1,000 years old
    NKorea report says a senior military official dies
    Transients board locomotive in Colo., get arrested
    NKorea invites US envoys for talks, report says
    Union wants ban on lithium batteries in cargo
    Calif. school still closed after pipe bomb attack
    Official: Explosion hits southern Afghan city
    Official: Huge explosion hits southern Afghan city
    Obama reappoints 'bold' Bernanke as Fed chairman
    Pakistani Taliban say chief Baitullah Mehsud dead
    Chinese president visits restive Xinjiang region
    China mine blast kills 14: govt
    3 dead in barn after standoff in northeast Tenn.
    Karzai, Abdullah at 40 percent in partial returns
    Man convicted in brutal slayings of Tenn. couple
    Malaysian court puts caning of woman on hold
    Hikers rescued in Alaska after journey into wild
    Papa John's founder finds his beloved 1971 Camaro
    Russia, Mongolia create uranium joint venture
    HCL Technologies quarterly profit surges 110 pct
    Daewoo to make $1.7 bln investment in Myanmar
    Jessica Biel tops list as most risky star in cyberspace | Entertainment |
    Pete Townshend plans new musical Floss | Entertainment |
    Canada police know woman with accused model killer | Entertainment |
    Orthodox Church condemns Madonna gig in Bulgaria
    Los Lonely Boys to release 1969 tribute EP | Entertainment |
    Bulgaria's church deplores Madonna concert
    Caillat has a 'Breakthrough' with sophomore CD
    LaToya Jackson appearing on '20/20' next month
    Budget impasse forces Shyamalan movie from Pa.
    Q&A: After `300,' Gerard Butler is still battling
    Head of troubled Darfur peacekeeping force resigns
    Russia seizes Norwegian yacht: border guards
    North, South Korea hold rare talks on split families | International |
    US ranks 28th in Internet connection speed: report
    US inches toward dialogue with NKorea
    Zimbabwe's Mugabe treated in Dubai hospital: paper | International |
    NASA calls off Discovery launch
    New ETA arms caches found in France
    Iraq focuses bombings blame on operatives in Syria
    Sony adds wireless e-reader as Kindle rival
    Profile of swine flu begins to emerge: study
    GM still wants to sell Opel: sources
    Top reformist confesses in Iran political trial
    YouTube to share ad money with more video makers
    U.S. limits visas in Honduras, stepping up pressure | International |
    Sony unveils new e-reader in Kindle challenge
    Oil price hits ten-month peak at 75 dollars
    Indonesian police arrest suspect over hotel blasts | International |
    Australia Aborigines ask U.N. for refugee status | International |
    Multitaskers distracted by everything: study
    Iran puts leading reformers on trial over unrest
    Chavez threatens break with Colombia | International |
    Armstrong twitters up Dublin bike ride
    Bomb kills 40 in Afghanistan's Kandahar: police
    The Pirate Bay back online after fine threat
    German prosecutors seek life for 'veil martyr' killer
    Argentine farmers call new anti-government strike | International |
    Iraq and Syria recall envoys over bombing claims
    Sony adds wireless e-reader as Kindle rival
    Sony unveils new e-reader in Kindle challenge
    Sony adds wireless e-reader as Kindle rival | Technology |
    YouTube to share ad money with more video makers | Technology |
    Attorney: Alleged Iowa coach shooter incompetent
    Car bomb blasts in Afghanistan kill at least 41
    Tongans hold funeral service at sea for ferry dead
    Chicken owner shoots own leg while hunting opossum
    Taiwan FM offers resignation over typhoon blunder
    Indonesian police arrest suspect over hotel blasts
    'Drats!' Valve trouble postpones shuttle launch
    US inches toward dialogue with NKorea
    Most China organ transplants come from death row
    Obamas visit top adviser's home, then go to dinner
    Rocket launch: SKorea fails to contact satellite
    MEMO FROM MARTHA's: Chief golfs with his chef
    Karzai, top rival run about even in Afghan returns
    LA school board approves school choice plan
    N.Korea may invite U.S. for nuclear talks
    New park offers X-rated views of NYC hotel guests
    California Catholics try TV to draw churchgoers
    Video allegedly shows 'executions' in Sri Lanka: report
    Workers at home where chaplain fell criticized
    Drunk man found at grocery store eating avocados
    China Life first half profit up 15 percent
    Toyota to cut production capacity at Japan factory
    Toyota to slash world production capacity: reports
    Seoul shares up 0.4 pct; NCSoft, Korea Beral spike
    S.Korea Aug consumer sentiment hits 7-yr high
    Air China sees first half profit more than double
    Chris Brown sentenced in LA for assault | Entertainment |
    Korea Hot Stocks
    Sale falls through on crypt above Marilyn Monroe | Entertainment |
    Seoul shares open up; NCSoft, Samsung Techwin gain
    US-ENTERTAINMENT Summary
    Epson pleads guilty to price-fixing, to pay 26 mln dlr fine
    Extract distilled from human stupidity | Entertainment |
    India says Delhi talks aimed at building WTO consensus
    NJ court appearance for comic Artie Lange delayed
    Sale falls through on crypt above Marilyn Monroe
    Chris Brown sentenced in Rihanna assault case
    Ga. judge: Accused Miley Cyrus stalker 'a danger'
    Billboard names Beyonce as 'Woman of the Year'
    Argentina legalizes personal marijuana possession
    Abdul to host 'VH1 Divas' Sept. 17 concert special
    B'way's 'West Side Story' has a minor lyric change
    Paisley, Underwood return as hosts of CMA Awards
    Karzai widens lead in Afghan vote
    French hostage in Somalia freed 'without violence'
    Karzai leads in Afghan poll, run-off indicated | International |
    Google Maps tracking traffic flow
    German firms most bullish since crisis began
    Russia admits mystery ship may have had suspect cargo
    Advertising giant WPP profits slump in first half
    Toll in Kandahar bomb at least 40: police
    Abbas to call election if talks with Hamas fail | International |
    Singer Chris Brown sentenced for Rihanna assault
    Iran's Khatami says trial confessions invalid | International |
    Bomb kills 40 in Afghanistan's Kandahar: police
    Iraqi Shi'ite party leader dies, successor eyed | International |
    Swelling US deficit threatens Obama reforms
    Forensic experts unearth 60 Bosnian war victims | International |
    French hostage escapes from rebels in Somalia | International |
    Russia eyes landmark purchase of French assault ship | International |
    Madagsacar leaders still deadlocked over top job | International |
    Pakistani forces launch air attack on Taliban | International |
    US-TECH Summary
    Nokia to launch mobile financial service | Technology |
    Nokia bets on Linux in iPhone battle: sources | Technology |
    House gets guerrilla ad treatment | Technology |
    IBM, Indian outsourcers win services deal from BP | Technology |
    Official: Dalai Lama to visit Taiwan
    Thai tennis star launches new herbal Viagra
    Malaysian opposition wins bellwether vote
    Kennedy successor to be chosen by special election
    Upstart party has already changed Japan politics
    Sen. Kennedy's death leaves 1 Kennedy sibling
    Hope, reality collide in post-Katrina New Orleans
    Ted Kennedy: Senator, family patriarch, dead at 77
    Koreas to hold first Red Cross talks in 2 years
    Text of Obama statement on Kennedy
    UN says ex-rebels breached Nepal peace agreement
    Israeli PM resists US pressure over settlements
    Interrogation probe steams those on right and left
    Most lawmakers and analysts welcome Bernanke news
    Russia deploys air defence over N.Korea missile tests
    AP IMPACT: Politics can drive stimulus priorities
    Schwarzenegger mourns loss of `Uncle Teddy'
    Pakistani Taliban seen as regrouping
    House gets guerrilla ad treatment | Entertainment |
    Taiwan dollar ends slightly lower on outflows
    CNOOC says 1H profit down 55 pct on lower prices
    S.Koreans most upbeat since 2002 but president cautions
    Thai interest rate unchanged amid recovery doubts
    Japan trade surplus rises for second month
    Pakistan's medium-term outlook still fragile
    SKorea to ratify EU free trade deal soon: Speaker
    Indonesian police detain suspect in hotel bombings
    Disputed time in Jackson case could be key
    'Prince of Jihad' arrested in Indonesia: police
    Mongolia tax repeal clears way for $4 bln mine
    Peter Horton: 'thirtysomething' lacked big 'but'
    Vietnam says inflation slowing
    US race row raises questions over Bollywood spin
    Seoul shares post highest close in 13 months =2
    In greying Japan, youth may turn out to rock the vote
    Mexico players fight for pre-Hispanic game site
    'Bamboo schools' bring hope to Nepal's poor
    Lee Young-ae marries businessman in US
    "Extract" distilled from human stupidity
    Greece at new risk of being pushed off euro
    Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
    Female Breasts Are Bigger Than Ever
    AMD Trinity Accelerated Processing Units Now in Volume Production
    The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
    AMD to Start Production of piledriver
    Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
    Islamists Protest Lady Gaga's Concert in Indonesia
    Japan Successfully Broadcasts an 8K Signal Over the Air
    ECB boosts loans to 1 trillion Euro to stop credit crunch
    Egypt : Mohammed Morsi won with 52 percent
    What do you call 100,000 Frenchmen with their hands up
    AMD Launches AMD Embedded R-Series APU Platform
    Fed Should not Ignore Emerging Market Crisis
    Fed casts shadow over India, emerging markets
    Why are Chinese tourists so rude? A few insights

    [InfoAnda] [Home] [This News]



    USD EUR - 1 year graph

    BlogMeter 1.01