Deficits and More Deficits

The Congressional Budget Office predicts the 2010 budget deficit will be $1.35 TRILLION, after a budget deficit in 2009 of $1.4 TRILLION. Yes, that is PER YEAR.

Compare that to the $455 Billion deficit the last year of the Bush Administration, which at that point was the largest deficit in history. That was a horrible deficit - it just looks tiny now in the face of annual deficits that are more than 3 Times the magnitude.

Since 2006, when Democrats took control of Congress (which is where money is spent), the deficit has increased 38%. It took us 60 years to get to a $10 Trillion deficit - we will be at $20 Trillion before you know it!!.

What is sad but funny about the new "spending freeze" proposed by President Obama is that the tiny part of the budget that it will affect (roughly 13%) will be "frozen" at the inflated spending levels of the last year!!