The budget deficit for the first three months of the year is already larger than all of last year.
NEW YORK (CNNMoney.com) -- The federal budget deficit expanded by $83.6 billion in December, the Treasury Department reported Tuesday, bringing the total deficit for the first three months of the 2009 fiscal year to $485.2 billion.It's a good thing we have no intention of ever paying off all that debt, otherwise this would be an immoral thing to do to our children. That's not funny.
By comparison, the budget deficit for all of fiscal year 2008 was $455 billion. In fiscal 2007, it was $161 billion.