The $1.7 trillion federal deficit is now coming in at $1.8 trillion.
The additional amount is five times the savings of $17 billion proudly announced by the Obama earlier this week.
Uncle Sugar is now borrowing 46 cents of every dollar spent.
That's $6000 in deficit per American citizen. Just this year, of course.
WaPo quotes the blog of White House Budget Director Peter Orszag: "The deficits ... are driven in large part by the economic crisis inherited by this administration."
OK, that makes us feel better.
We inherited this mess. And we're going to keep saying that even if we go 4 trillion.
ReplyDeleteB.H.O.