Wednesday, July 15, 2009

U.S. Budget Deficit Tops $1 Trillion - Next Stop $2 Trillion

Well I guess it is good to have something to strive for...

WASHINGTON — The federal deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears about higher interest rates, inflation and the strength of the dollar.

The deficit has been widened by the huge sum the government has spent to ease the recession, combined with a sharp decline in tax revenues. The cost of wars in Iraq and Afghanistan also is a major factor.

Always those darn wars! If we could only figure out a way to mesh our initiative to 'go green' and a war in desert we would have a surplus. Maybe the troops could generate electricity via treadmills since according to the mainstream media they have nothing better to do with their time.

Full Article Here

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