Quote:
Originally posted by Agamemnon@Sep 7 2004, 11:17 AM
It's not sustainable. I'm sure several factors will be pointedly blamed by the Administration. The economy was supposedly tanking when Bush took office. The war in Iraq might easily account for half of that, both in payments to contractors, the military, as well as direct assistance to Iraq. I believe next year's deficit is predicted to be more or less similar to this year's.
I think the scariest thing is not that the deficit is $422 billion, but rather that it constitutes like 5% of total US debt (3-5 trillion?). That's a lot of borrowing to do in one year.
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Ahhh, it's actually like 10%. Which is a whole lot scarier.
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