Out of Control Policy Blog

Fun Facts about the Obama Budget

Memorial Day is as good as any to chew on the fiscal health of the nation. So here are some fun facts about Obama's 2010 federal budget culled from a brilliant back-page illustration in the May 25 Newsweek.

According to the mag's number crunchers, the $3.55 trillion budget is enough to buy: Everything Produced in Italy and All the Oil in Saudi Arabia and All the Tea in China and a $17 Grand Electric Car for every 16- and 17-year-old in America and One 99c MP3 iTunes Download for Everyone in America and still have money left over for a Pair of Marc Jacobs Sunglasses along with a host of other sundry items.

This budget, combined with all the stimulus and bailout spending, means that the U.S. will face a deficit of $1.75 trillion deficit this year. In other words, Uncle Sam will be borrowing 50 cents of every dollar it spends.

The Newsweek illustration is not available on online but it is well worth springing $5.95 for it if you are feeling too elated today - and want to quickly return to Mother Earth.

Happy Memorial Day.

Shikha Dalmia is Senior Analyst


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