DEFICIT TO HIT ALL-TIME HIGH: $3.8 Trillion Budget and $1.6 Trillion Shortfall for 2010 --WSJ (Craig in Mountain Time)

DEFICIT TO HIT ALL-TIME HIGH: $3.8 Trillion Budget and $1.6 Trillion Shortfall for 2010 --WSJ (Craig in Mountain Time)

The US Deficit is set to hit an all-time high, according to an article in the Wall Street Journal that stated, "Obama's $3.8 Trillion Budget Forecasts a $1.6 Trillion Shortfall for 2010 Before It Drops.”

Even in President Barack Obama’s ‘optimistic’ proposal, he forecasts that there will be a whopping $1.6 TRILLION dollar shortfall this year. But then ‘magically’ the red ink will go down to about $700 billion, or 4% of the gross domestic product by 2013. However there seems to be no one on earth who knows just how the red ink can disappear, especially amidst the myriad of big government spending sprees and schemes currently being hatched by hatched by politicians who continually turn a deaf ear and a blind eye to the massacre in Massachusetts, the growing number of Town Hall outbursts and Tea Parties nationwide.

Conducting Talk Shows on this topic is Swiss America CEO, Craig R. Smith who shares key economic insights with your audience who intuitively know much of what he has to say already, but are glad to have their internal thinking validated since many in the mainstream news media have failed to articulate their concerns effectively.

How does Obama's 2011 projected deficit compare to past administrations and current reality? Craig has the answer. "Is the deficit too large? Craig concurs with many economists who consider deficits in excess of 3% of a nation's annual economic output (gross domestic product/GDP) as unsustainable.

Craig explains that the United States' $1.56-trillion deficit this fiscal year is estimated at 10.6% of its GDP and that The White House forecasts that the deficit will stay above 3% of GDP for the rest of this decade. So by traditional economic measures, the present deficits are much too large to sustain. Should we worry? What are our options?

Craig gives the pros and cons including the opinion of a Los Angeles Times article that stated, “Slashing the federal budget now could tip the country back into recession -- and probably make the deficit problem bigger. At the same time, presenting a budget that is credible and has a realistic plan to reduce future deficits is important for reassuring holders of U.S. government debt. Failure to do so could heighten fears of rising inflation in the future, which could spark higher interest rates in the short term.”

As a guest on your show, Craig Smith would like to make available to your audience a FREE Swiss America Special Report, The Incredible Shrinking Dollar: How to Fight Back, just by calling 800-289-2646.


ABOUT YOUR EXPERT GUEST CRAIG R. SMITH

Craig R. Smith is an author, commentator and popular media guest because he instantly engages audiences with his common-sense analyses of local, national and global trends.

Serving as CEO of Swiss America for over 25 years, Craig understands that Americans want solid answers to the tough questions and that real leadership begins with servanthood.

Craig is the author Black Gold Stranglehold: The Myth of Scarcity and the Politics of Oil, which he co-authored with author Dr. Jerome R. Corsi.

Sample TV interviews conducted by Craig R. Smith may be viewed at:
http://craigrsmith.com/news.php

To schedule an interview with CRAIG SMITH, call: 630-848-0750.