The next president will inherit a record budget deficit approaching $490 billion, a Bush administration official said Monday. The official said the deficit was being driven to an all-time high by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession.

Digg’s SethElis:
“A $482 billion deficit, however, would easily surpass the record deficit of $413 billion set in 2004.”

Thanks a lot. When congress finally decides to do something they decide to increase the ceiling for the deficit. I blame all levels of government, and both political parties for the complete mess when it comes to spending. This government is going to run the economy completely into the ground before people figure it out.


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