Tuesday, February 12, 2008

Budget Deficit Nearly Doubles

Who would want to be the next President after this administration has run us into a whole so big we may never get out?
The federal budget deficit is running at a pace that is more than double last year's imbalance through the first four months of the budget year.

In its monthly review of the government's finances, the Treasury Department said Tuesday that the budget was in surplus in January, but totals $87.7 billion so far this budget year, double the $42.2 billion imbalance recorded during the same period in 2007. The new budget year started last Oct. 1.

The Bush administration sent its final budget request to Congress last week, projecting that the deficit for all of 2008 will total $410 billion, very close to the all-time high in dollar terms of $413 billion in 2004.
The amount owed by every American just continues to grow. They talk so much about the death tax but what about the birth tax? That is the amount of debt each citizen is saddled with as a share of the national debt. Oh and always remember that these figures do not include the war costs which are considered "supplemental". Do you still think the tax cuts are generating this supposed extra revenue? The proof is in the numbers and they are getting down right ugly.

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