Peter Schiff 1/6/08 on Kudlow
Discussion regarding Obama's statement to reporters today of 'Trillion-Dollar Deficits for Years to Come'
"President-elect Barack Obama predicted Tuesday that the nation could see "trillion-dollar deficits for years to come," but said the country needs to continue spending taxpayer dollars to get the economy back on track."
Obama, speaking to reporters at his Washington transition office, said he didn't want to get into specific budget numbers because his proposal is still being worked out with lawmakers and has yet to be submitted for debate. But he expects a trillion-dollar deficit before the next fiscal-year budget is even proposed.