1. The Congressional Budget Office's projection of a $1.2 Trillion deficit does NOT include Barack Obama's proposed $700+ Billion "stimulus" package. If included, the deficit for 2009 is likely to be more in the league of $ 1.7 Trillion.
2. A government that started with a balanced budget could run a $1.7 trillion deficit by mailing 1.7 million households $1 million, or 17 million households $100,000.
3. The whole world’s military spending in 2006 totaled a little less than $1.2 trillion. So next year’s U.S. deficit could cover that and still have $500 billion left over for building bridges.
5. The CBO forecasts that federal revenue will only be $166 billion less than it was in 2008, a 6.6 percent decline. But relative to 2000, revenue has actually increased from $2 trillion to a scheduled $2.4 trillion in 2009.
From : Trillion-Dollar Spree Is Road to Ruin, Not Rally: Kevin Hassett
So...nothing new to see here, people (especially not change).
Just keep moving along, mind your own business, and let the DC beltway / FED / Wall Street masters-of-the-universe handle it all for us.
Amazing how making purely-speculative public "investments" using profligate public credit is the big government's answer to economic woes brought on by purely-speculative private investment using profligate private credit (assuming you believe social/economic collectivist dogma as to why our economy is faltering).
We all know what a great 'money manager' the federal government has been under socialist Democrats and deficit warmonger Republicans. Two peas in a pod, if you ask me.
No wonder disgraced master-of-the-universe and Ponzi fraud artist Bernie Madoff always has a shit-eating grin on his face when he shows it around the Big Apple. The Democrat socialist government unfolding in Washington, D.C. makes Madman Madoff look like a cautious fiduciary.
Madoff, at least, stole from intelligent adults who consciously funded his "investment" scheme. Our sociopathic government is stealing from as-yet-unborn generations of Americans, who have no say in the government that is stealing their livelihood for the instant gratification of messianic blowhard political crooks.
As I heard one comment : 'Talk about taxation without representation. Sheesh.'