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Obama: "We Must Add to Our Debt in the Short Run"
The president lays out his first budget Thursday morning, which includes a $1.75 trillion deficit. And/But: Says his administration has identified areas to slash spending by $2 trillion in the future. Obama aides deliver the 140-page budget blueprint to Congress shortly after remarks. Complete budget details to come in April. Read his remarks here. [...]
Breaking Down the Budget
--$634 billion down payment on universal health care, paid for by boosting taxes on wealthy, curtailing Medicare payments. --$750 billion more in spending under the government's rescue program for financial institutions. --Trims a variety of government programs, including subsidies earned by farmers with revenue of more than $500,000 a year. --$130 billion for Iraq and Afghanistan in 2010. Budget [...]
Big Casino
Why does David Broder think Obama is rolling America's dice? Click here to find out.
Jobless Claims Rise More than Expected
New requests for unemployment benefits jumped to 667,000 last week, 30,000 more than in the previous week. The number of Americans receiving unemployment now tops 5.1 million, almost double what it was a year ago.
GM Posts $30.9 Billion Loss in '08
Largest U.S. automaker suffers a $9.6 billion fourth-quarter loss, says it burned through $6.2 billion of cash in the last three months of 2008. Comes as top execs spend the day meeting with Obama's auto task force in D.C.
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Swampland
The Earmark Debate
Here's a web story from Scherer and me on the furor over the earmarks in the 2009 omnibus bill passed by the House yesterday. Roll Call's Keith Koffler also reports today  that Obama tried, and failed, to convince Congress to trim some of the earmarks. An excerpt for those of you who don't have Roll [...]
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