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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Federal Budget Is Released

President Obama's budget was officially rolled out moments ago by Peter Orszag, director of the president's Office of Management and Budget.

The budget creates a "national infrastructure bank," a public-private entity that is meant to speed deployment of infrastructure projects, such as highway work.

Orszag called this a more "honest" budget, including items that have previously been excluded, such as "pretending" another hurricane never strike the U.S. and that the cost of the wars in Iraq and Afghanistan "will magically disappear overnight."

As such, this budget contains $2.7 trillion in costs that Orszag said were excluded from previous budgets.

You are supposed to be able to read the overview of the budget here, but the link isn't working. Maybe try back later.

Try this one.

-- Frank Ahrens
The Ticker is Twittering!

By Frank Ahrens  |  February 26, 2009; 11:01 AM ET
Categories:  The Ticker  | Tags: budget, budget deficit, obama  
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