On Friday the budget new estimates from White house was been predicted. The budget deficit will reach up to $1.47 trillion within the year 2010. Every dollar the US government spends it is borrowing 41 cents. The new estimates give a picture of the unemployment as the economic experiences.

The average unemployment rate is averaging 9.5% and would be average to 9% by 2011. The budget report from the office management has an ominous news for reelection for president Obama. The re election may be held during 2012 feels the office management reports. The unemployment rate at present is still high about 8.1% which is above normal.

A normal or a closer rate of the unemployment rate should be around 5.5% to 6%. Until the decade the rate of unemployment will not decrease feel many economists. The deficits which have been gaping have increased the concerns of the citizens. The government has taking a pass over the deficit reduction for the year 2010.

The current year may soon see some improvement in the deficit,for the next year the deficit is predicted to $1.42 trillion. Borrowing some 37 cents for every dollar is really worst but it is due to the slumping tax revenues.
There are now really no new option before the US government, than to cut down on the tax concessions and also raise the tax rates.