Half Trillion Dollar Deficit Awaits U.S. Next Year!
Posted on July 28, 2008
Filed Under Journalism, News, Politics, commentary |
Half a trillion dollars….that is what the U.S. government’s budget deficit is expected to be next year.
It is worth repeating the figure it is so staggering—half a TRILLION dollars.
And, that does NOT include spending next year for the Iraq war–add tens of billions of dollars more.
To be sure, experts point out that , in percentage terms, this is actually, if you can believe it, not the worst deficit this country has had. But, in dollar terms, it is eye popping.
The Bush Deficit
When Bush became president, he inherited a healthy surplus from the Clinton administration.
Then came 9/11, the war on terrorism, the war on Iraq, the war on Afghanistan, the “fake war” on Pakistan’s tribal areas, the potential war with Iran and the war on every American’s Constitutional rights!
It’s amazing the deficit will only be half a trillion…why not just go for the full trillion while we are at it?
One thing is clear, whether Obama or McCain gets elected, the economic mess will be enormous and, maybe, impossible to deal with for the foreseeable future.
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