Updated Budget Projections: 2016 to 2026 March 24, 2016. CBO projects a $534 billion deficit in fiscal year 2016, about $100 billion more than in 2015. If current laws generally remained unchanged, the deficit would increase from 2.9 percent to 4.9 percent of GDP over the next decade.
A Letter on the Abolition of the slave trade, Addressed to the Freeholders and Other Inhabitants of Yorkshire, by William Wilberforce. London, 1807. Edited and introduced for the web by Dan Graves. William Wilberforce was a parliamentarian and man-about-town when he became convinced of the truth of Christianity. Upon his conversion, he thought he should withdraw from parliament, but pastor John Newton, author of the beloved hymn âAmazing Graceâ convinced him otherwise.
Voices for protective legislation were found among the former War Hawks. Henry Clay argued on behalf of the domestic mill and iron industries. John C. Calhoun, who would later be an ardent foe of high tariffs, supported protectionism because he believed that the South s future would include industrial development.