The Congressional Budget Office predicts the deficit will reach $1.5 trillion this year:
The government’s budget deficit will soar to nearly $1.5 trillion this year, the nonpartisan Congressional Budget Office said Wednesday, an anticipated but politically galvanizing calculation that further intensified the partisan battle over the nation’s fiscal future.
The $1.5 trillion deficit projection is $414 billion higher than its previous estimate, in August, and reflects in part the tax cut deal last month between President Obama and Republicans. The deficit was $1.4 trillion in 2009 and $1.3 trillion in 2010.
National Journal's Sara Sorcherreports on the instant responses to last night's address:
According to CBS News and Knowledge Networks' "instant poll," which surveyed a nationally representative sample of 500 viewers in the minutes after the president’s address, 91 percent said they approved of Obama’s message and proposals, with only 9 percent saying they disapproved. This is a significant increase from last year, when the same poll found 83 percent of viewers approved of Obama’s State of the Union.