Graph of the Day for April 11, 2010

"I've proposed a freeze in government spending for three years.  This won't apply to the benefits folks get through Social Security, Medicaid, or Medicare.  And it won't apply to our national security -- including benefits for veterans.  But it will apply to all other discretionary government programs.  And we're not simply photocopying last year's budget; freezing spending does not mean we won't cut what doesn't work to pay for what does.  We have gone through every department's spending line by line, item by item, looking for inefficiency, duplication, and programs that have outlived their usefulness."  President Obama, February 1, 2010.

Source:  Republican Office, Committee on the Budget, Rep. Paul Ryan, ranking member.

Hoven's Index for April 11, 2010

Federal budget deficit for first six months of FY2010:  $714 billion

Federal budget deficit for the two full years of FY2006 and FY2007 combined (last two budgets passed by a Republican-led Congress):  $409 billion

Source:  The CBO's Monthly Budget Review, March 2010, and US Statistical Abstract, Table 457.

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