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Pres Obama set to quadrupled US debt this year

As Barack Obama continues his mission to save the US economy it has been suggested that the US Federal deficit for 2009 will come in at around $1.75 trillion as opposed to $459 billion in 2008. This is due mainly to the $787 billion financial stimulus package, as well as the $250 billion set aside for the banking system and the ever-growing cost of the wars in Iraq and Afghanistan. While Pres Obama seems intent on spending his way out of trouble and dragging the US economy up by its boot straps this is very much a high-risk policy.

It has been suggested that this is just phase 1 of a serious reorganisation of the US economy which will see foundations changed and economic policies of the future more focused. There were many who suggested that Pres Obama did not have the nerve or the experience to tackle the problem of the US economy but so far he has shown great nerve although whether he will be successful very much remains to be seen. However, in the eyes of many he is in a no lose situation because if he fails he can blame the last president and if he is successful he can take the applause himself.

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