The American Spectator : AmSpecBlog : Deficit Hits $1.4 trillion for 2009

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Deficit Hits $1.4 trillion for 2009

By Philip Klein on 10.8.09 @ 1:48PM

The Congressional Budget Office has estimated that the annual deficit for the 2009 fiscal year ended last week was $1.4 trillion. That represents a shortfall of 9.9 percent of GDP, the highest since World War II.

Comments

S.L. Toddard| 10.8.09 @ 7:59PM

Well, there are two responsible, conservative solutions: either raise taxes sufficiently to balance the budget, or slash the federal budget (including the defense budget) and end our costly, wasteful nation-building projects in the Middle East.

We cannot forever continue the profoundly immoral and irresponsible Bushian policy of wild spending and reckless foreign adventuring while either borrowing the money for it or passing off the debt to someone else (our children and grandchildren). America has become a beggar nation, a welfare queen, living off of other people's money and trading her children's future for short-term fixes.

In this, as in so many other things, Obama has fully embraced his predecessor's disastrous policies, further demonstrating (not that it was needed) the corruption and complicity between the two major parties, who - despite their different mascots - are owned by the same corporate entities.

We either reform the GOP or continue down this same road, into ignominy, bankruptcy and extinction.