Jul
28
$500,000,000,000
Filed Under Economics, Inflation, US Government
That’s the number that the US government deficit is expected to reach as Bush leaves office. That means that the government will spend half a trillion dollars more than it will take in. Keep in mind that Social Security, Medicare, and most of the Iraq war are not accounted for in the budget! Can you imagine a company that operated the same way that the government does? And just think - Obama and McCain are spending millions of dollars to inherit this mess! That’s outside of the National Debt (approximately $9.5 trillion), which is staggering in and of itself.
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