Tuesday, January 25, 2005

$368 Billion Deficit

The US deficit is expected to be a whopping $368 Billion next year. And before anyone posts a comment saying "well, this is down from $418 Billion last year," let me point out a few things.

First, This does not include the costs of the war. This is expected to be between $100 and $115 billion extra (and I think this is low). Bush is already asking for an additional $80 billion now.

Second, this deficit number assumes that the tax cut is not made permanent. If Bush gets his way, this number shoots way up again.

Third, the dollar continues to drop, making it even more difficult to repay our debts.

Fourth, Bush predicted a deficit of $331 billion last year... thus, it is higher than previously forecasted.

As an update - the national debt stands at $7,614,010,749,612... your share is $83,107

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