Record deficit expected in 2009

Record deficit expected in 2009

www.usatoday.com

WASHINGTON — The White House has increased its estimate for next year's deficit to nearly $490 billion, a record figure that will saddle the next president with deepening budget problems in his first year in office, a report due out Monday shows.

The projected deficit for the fiscal year that begins Oct. 1 is being driven higher by the continuing economic slowdown and larger-than-anticipated costs of the two-year, $168 billion fiscal stimulus package passed by Congress, said two senior administration officials with direct knowledge of the report. In February, President Bush predicted the 2009 deficit would be $407 billion.

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This is killing our country and I fear that we may not come out of this spending spree as well off as the people in the 30's and early 40's did. The scary thing is that they didn't come out of it well off at all.

Just look at the deficit graphs at the top of the page. How come it is during the 'conservative' reigns that we see SPEND SPEND SPEND and CUT CUT CUT. It's always war to boost the economy and tax cuts and incentives. Though I don't believe in higher taxes (kills business) I do question the idea of pushing wars to try and bolster the economy while making only a few very wealthy.

We need to stop this madness soon or else we will be completely bankrupt (if we aren't already) and the lendor's will come to collect.

www.usatoday.com
(visit the link for the full news article)

This comes as no surprise to me. Heh. The people in charge - Cheney and Puppetboy - have given Wall Street (and thus us as indentured slaves) to the Federal Reserve (a private corporation), and are bent on spending more money to finance the war they created (to the profit of their and their cronies' corporations) to further increase the debt that would keep us enslaved.

So as I said, no surprise here.

Yep, pretty much meets with what you'd expect.

These days I'd be more surprised to see a balanced budget, and if it was I'd wonder where on Earth they got to money to do it with!