Thursday, February 4, 2010
I wonder what is causing our huge budget deficit?
I'm curious about this kind of stuff, and the Cable news shows never take time to dig into boring things like budget numbers. Here is a handy chart that I stole from the Center on Budget and Policy Priorities that helps explain it.
It shows pretty clearly where the majority of the deficit comes from. If you are interested, you can read the whole article here. It's really quite interesting. Although apparently to the Republicans, Obama is a big government socialist, it looks like most of the current deficit came from that last guy, ol' what's his name..............
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Regardless of who caused it - in December 2009, interest paid on the debt was 104 billion. To bad...that is a lot of money, I think our schools could sure use some of it.
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