US Deficit Grows to $1.42 Trillion - Biggest Since 1945, page 1

From CNN.com

Not that this is a huge surprise to anyone, but it is interesting to know just how high the decifit is. And apparently, if the current budget proposals are approved, we're in for some massive debt:

In August, the OMB projected a 10-year deficit of $9 trillion, assuming President Obama's 2010 budget proposals are put in place.

A deficit of that magnitude means the debt held by the public would approach 82% of gross domestic product. That's double the 41% recorded in 2008.

At the end of September, the country's total debt -- which is an accumulation of all annual deficits to date plus other obligations -- stood at $11.9 trillion.

Do you think there's any way to avoid this growing burden?

[edit on 16/10/09 by Morbo the Annihilator]

[edit on 16/10/09 by Morbo the Annihilator]

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