Obama Names Bernanke To Second Term Amid New Deficit Forecast

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The White House now predicts a 10-year federal budget deficit of $9,000,000,000,000

The White House now predicts a 10-year federal budget deficit of $9,000,000,000,000

By Brian Allen KSFY

Story Created: Aug 25, 2009 at 9:49 PM CST

Story Updated: Aug 25, 2009 at 9:49 PM CST

President Obama is banking on Ben Bernanke... again.
The president interrupted his summer vacation today... to give the federal reserve chairman a personal vote of confidence-- and a second four-year term as the nation's chief financial officer.

And in a chilling forecast today... the White House is predicting a 10-year federal deficit of nine-trillion dollars.
That's more than the sum of all previous deficits since America's founding.
And it says by the next decade's end the national debt will equal three-quarters of the entire U.S. economy.

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