President Obama is expected to revise his fiscal 2009 deficit estimate to $1.58 trillion, which is down from the $1.84 trillion estimate earlier in the year. Nearly all of the difference is based upon the Obama administration not using the $250 billion “placeholder” he had built into his budget for a second round of bank bailouts under the TARP program.
In a tale that sounds like something out of a spy movie, the New York Post has revealed intricate details about a secret mission to Russia to purchase “black” Mi-17 helicopters, a mission that landed a defense contractor and an army official in federal prison.
President Barack Obama took office with an extraordinary set of promises as a candidate. He has fulfilled many of the promises to the left-wing base of his party, such as his executive order three days after he was inaugurated restoring the funding of abortions with foreign-aid money.