Posted on March 15, 2009
Filed Under Economics | Comments Off on Economics 101: Neil Cavuto Interviews Congresswoman Jackie Speier (D)
Congresswoman Jackie Speier tells Fox News’ Neil Cavuto what she’s doing to reform the earmarking process. A liberal democrat defying her party – voting no to appropriations.
President Obama will be submitting a new $4 trillion budget in fall 2009, – we will borrow another $1.5 trillion to $2 trillion thus fall in addition to what has already been submitted the first 60 days. This does not include Over $4 trillion in interest payments on the actual accumulated national debt, over a ten year period – assuming interest rate average of 3.25%, but likelihood much higher due to inflation risks/devaluing in currency.