The deficit
Saturday, November 6th, 2010The news came in today that the national deficit for the last year was $1.4 trillion dollars. This is the second largest deficit in U.S. history. The deficit is in large part due to the fact that unemployment is up and tax collections are down. The slow economy has not helped anything as government expenditures have remained the same or slightly larger.
The money going out of the government is growing as we are supporting two wars and rising costs in Medicaid. Other factors such as rising discretionary spending and food stamps are enlarging the deficit. I hope the government can find a way to balance the budget.