The next president will inherit a record budget deficit of $482 billion, according to a new Bush administration estimate released Monday.Also you need to remember that this deficit DOES NOT include the wars in Iraq and Afghanistan which are handled as supplemental expenses and are not included in the numbers.
The administration said the deficit was being driven to an all-time high by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession.
But the numbers could go even higher if the economy performs worse than the White House predicts.
This administration has destroyed the economic security for the next generation. We will soon see the baby boomers retiring without the pensions that their parents enjoyed. We will see a huge jump in the elderly living in poverty but the rich will have grown even richer. When will the American people wake up and understand that the middle class has become the working poor with a credit line and with credit so hard to come by soon they will just be the working poor. War, lies, poverty and corruption will be the words that define the Bush administration and we as a country will be paying the price for the next generation.