"WASHINGTON (AP) -- The Treasury Department said Friday that the budget deficit increased by $192.3 billion in March, and is near $1 trillion just halfway through the budget year, as costs of the financial bailout and recession mount." I guess Barry will get a pass on this too. John http://finance.yahoo.com/news/Feder...l?sec=topStories&pos=main&asset=TBD&ccode=TBD
At this point in the game budget deficits are meaningless. The outstanding debt will never be repaid and we're nearing the point where the tax payer won't have the ability to pay the mounting interest on the debt. The US Government should keep borrowing at warp speed and speed the collapse up so we can start over. The US economic machine will surely collapse. It's just a question of when. I think we'll have to endure a few decades of socialism/communism first.
It's obvious now the only lender to the US is the FED itself.........annual budget deficit will be near $2T........there are just not going to be enough foreigners to lend us this amount. Dollar is going to have to drop hard to rebalance the true worth of the US$.
If that's the case, we will be nuked by Iran or Russia before we get back to reality. Our nukes are lacking in maintenance and many won't function now.