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August 20, 2009
Federal Spending Deficit Explodes Nearly Eight Fold
With rock star billionaire Warren Buffet sounding the alarm about the Federal Budget deficit, a retrospective look shows the unprecedented level of the deficit.
The 2009 deficit is projected to be $1.977 trillion. This is almost 12 times more than the deficits in the 1980s, 45 times the deficits in 1990s and nearly 8 times more than than deficits in the 2000s.
A multi-trillion dollar deficit is unsustainable and one of the most dangerous threats to the Country. The Obama Administration and Congress should shelve the Healthcare and Global Warming Bills and concentrate on the chronic economic problems that plague us.