Originally Posted by Eugene
I wasn't talking about the huge deficit that we're in. I was talking about the gargantuan deficits that Obama is proposing.
Growth in deficit:
In each of the years from 2003 to 2007, the deficit grew more than half a trillion dollars ($550b, $600b, $550b, $570b, $500b respectively).
In fiscal year 2008, which ended 9/30/2008, the deficit grew $1.02 trillion.
This fiscal year - in just slightly over 3 months - the deficit has already grown $1.04 trillion, and that doesn't include more than half of the bank bailout and the whole big-3 car company bailout.
For the rest of this fiscal year, until 9/30/09, we are already committed to another $400b for bailouts, $550b for the war, and $470b just to pay the interest on what Bush has borrowed to wage war. All that is on top of the projected $560b deficit already in Bush's budget.
That is a guaranteed deficit of $2.98 trillion for fiscal year 2009 without Obama lifting as much as a finger. So, you're saying that Obama is engineering a major increase in deficit, eh?
Think what ya gotta!