A new decade of profligacy will follow the last decade of profligacy, President Obama says, in so many words. A few trims around the edges, but the budget contains a nearly $1.6 trln deficit which includes another $100 bln in stimulus spending since the initial $887 bln didn’t do the trick.
The greenback is consolidating gains with USD/JPY the lead dog this morning. It stalled just shy of 90.92 highs from Friday and trades now at 90.80.