obama predicts 'trillion-dollar deficits for y

Wanna know why the DOW tanked today? Obama sticks his foot in his mouth. Trillion dollar deficits for YEARS to come? Way to inspire confidence Mr. President-Elect. If you think Bush was bad, wait until Obama comes in.

Obama Predicts 'Trillion-Dollar Deficits for Years to Come'

President-elect Barack Obama predicted Tuesday that the nation could see "trillion-dollar deficits for years to come," but said the country needs to continue spending taxpayer dollars to get the economy back on track.

Obama, speaking to reporters at his Washington transition office, said he didn't want to get into specific budget numbers because his proposal is still being worked out with lawmakers and has yet to be submitted for debate. But he expects a trillion-dollar deficit before the next fiscal-year budget is even proposed.

"We're already looking at a trillion-dollar budget deficit or close to a trillion-dollar budget deficit, and that potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on at this point,The president-elect was lobbying Capitol Hill as the 111th Congress convenes, attempting to pitch an economy recovery package estimated to hit about $775 billion.

Asked about concerns of increased deficit spending, Obama said: "We know that we're going to have to spend money to jump-start the economy.

http://www.foxnews.com/politics/2009...bama-response/