OBAMA "TRIlLLION DOLLAR DEFICITS"

President-Elect Obama is predicting Trillion dollar deficits because, of the Wall Street bailout and the Trillion Dollar Stimulus Package. Obama told the media that even if there was spending cuts that the deficit would reach the magical number of a trillion dollars in the near future. Obama said that "We are going to have to stop talking about budget reform". "We are going to have to totally embrace budget reform". The biggest problem that Obama has is managing the deficit is that the gap between revenues and spending and the swelling deficit, national debt and the amount the government borrowed to finance the debt. Obama has scheduled a news conference for today to make a personnel announcement related to budget reform and aides. Obama will incorporate some new provisions in his new American Recovery And Reinvestment Act to ensure the money is not wasted. There will be a special panel to monitor the use of the money so, it is not being wasted. There will be a website for taxpayers to monitor that the money is not be wasted by earmarks and political pet projects. Finally, Obama is predicting three million jobs but, there has to be some type of fiscal responsibility if this country economic system is going to survive. The trillion dollar stimulus package is a bad idea with the financial condition of America.