Thursday, January 08, 2009

McClatchy Washington Bureau | 01/07/2009 | Just as Obama begins, huge deficit could hamper plans

However, while many economists, business groups and politicians agree on the need for something dramatic, Obama now concedes that he'll have to wait until February to get a bill to sign. He'll probably find conservative "blue dog" Democrats as well as Republicans balking at the idea of borrowing another $1 trillion on top of this new annual deficit.

They could deny Obama the kind of broad, bipartisan approval that he hopes will signal not only that he's changed the political culture of a divided Washington but also that he's put forward a plan that's widely popular. Such approval is crucial as he moves to rebuild trust in the government and the economy.

He plans to speak more about the need to rebuild confidence in a speech on the economy Thursday.
McClatchy Washington Bureau | 01/07/2009 | Just as Obama begins, huge deficit could hamper plans
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