that link was a projected budget deficit. In fact, Obama's first budget came in 122 Billion under Bush's last budget. We already have a roadmap on how to reduce the budget deficit-it has been done before. Reimpose a reasonable Estate Tax for one and then repeal the Bush Tax Cuts for those earning more than $250,000. Based upon 80 years of tax policy precedent it is the perfectly reasonable response to the budget crisis. Voodoo Economics starting in 1980 is the root of the problem
Here is the official Final Budget Deficit Report of the Treasury Department:
http://www.ustreas.gov/press/releases/tg911.htm
The pertinent part reads:
Summary of Fiscal Year 2010 Budget Results
Year-end data from the September 2010 Monthly Treasury Statement of Receipts and Outlays of the United States Government show that the deficit for FY 2010 was $1.294 trillion, $122 billion or nine percent less than in FY 2009, and $177 billion or 12 percent less than estimated in the July 2010 Mid-Session Review of the FY 2011 Budget (MSR). The deficit was also $261 billion or 17 percent less than the estimate in the President's FY 2011 Budget submitted to Congress in February 2010. As a percentage of GDP, the deficit fell to 8.9 percent, down from 10.0 percent of GDP in FY 2009.