U.S. Raises Estimate for 10-Year Deficit to $9 Trillion
NY Times 08/25/09
The Obama administration, citing an economic downturn that has been deeper than it had first thought, raised its estimate on Tuesday of the government's deficit over the next decade to $9 trillion from $7.1 trillion. More...
$7.1 trillion, $9 trillion - what difference does it make? We've been sold out, people. We're talking $9 with 12 zeros after it in debt! In just over half a year we've gone from "mere" billions to trillions in debt. Does Obama really expect us to think this is an economic improvement?
And, perhaps more worrisome - is it possible that the number is even worse than that?