See attached article By Jeremy Pelofsky and David Lawder
WASHINGTON (Reuters) - The Bush administration on Monday projected the U.S. budget deficit will soar to a record of nearly half a trillion dollars in fiscal 2009 ...
http://news.yahoo.com/s/nm/20080728/...omy_deficit_dc
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Several factors at work here - the housing debacle, corporate bailouts, and the 'economic stimulus program.' And this forecast does NOT include the costs for the wars in Afghanistan and Iraq.
What are your thoughts on this situation? For one thing, I feel that the economic stimulus checks were a foolish idea and just a shallow political move by both parties to provide a short-term uptick in consumer spending. The government is just borrowing more from this and future generations to hand out checks. Reminds me of Wimpy from the Popeye cartoon...
"I'll galdly pay you Tuesday for a hamburger today..."
