Obama Announces New Debt Reduction Program; President Will Extend His Vacation on Martha’s Vineyard

With record federal budget deficits combined with projections of the lowest federal tax receipts since the Great Depression, the White House is looking for ways to reduce the federal debt.

Yesterday, Treasury Secretary Geithner outlined the administration’s latest debt reduction program: a proposal to extend the President’s vacation in Martha’s Vineyard.

The White House press secretary told reporters, “The island’s almost 80 square miles, so we’re confident that by adding a few hikes and extra rounds of golf we can keep the President away from Washington, D.C. another three or four days."

Associated article: http://news.yahoo.com/s/ap/us_plummeting_taxes