While the big plan this fall is a Jobs Bill with something like $200bn in tax cuts and $200bn in investment spending – the deficit seemed to rise by $134 billion in one month of August alone. We are simply nowhere near the real numbers or taking the debt problem seriously yet. A 40% deficit and $1.3tr is added each year. And the senior bomb hasn’t even started.
From The Hill:
The federal government spent $134 billion more in the month of August than it brought in, as the deficit for the year rose to $1.23 trillion, the Treasury Department reported Tuesday.
[..] With one month left to go in the fiscal year, the deficit has already cleared $1 trillion for the third straight year, and is on pace to approximately meet fiscal 2010′s deficit of $1.29 trillion.