Tuesday, January 6, 2009

Obama Warns of ‘Trillion-Dollar Deficits’

Bill Gross of Pimco wrote of trillion dollar deficits back in July.

President-elect Barack Obama during a meeting with Rahm Emanuel, Chief of Staff-designate, right; Peter Orszag, Director-designate, Office of Management and Budget, left, and Rob Nabors, Deputy Director-designate, Office of Management and Budget; second from right, on Tuesday in Washington.
Doug Mills/The New York Times
The Caucus

Obama Warns of ‘Trillion-Dollar Deficits’

By JEFF ZELENY 3:04 PM ET

Meeting with his economic team in Washington on Tuesday, Barack Obama warned that the country faced the prospect of “trillion-dollar deficits for years to come.”

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