This week the White House reported that the federal deficit is rising faster than expected. The projected 10-year deficit is now $9 trillion — that's $2 trillion more than previous estimates. Does increased spending mean a healthier economy, or does burgeoning debt spell trouble for the future? To decode this number and other indicators we speak to Lakshman Achuthan, managing director of the Economic Cycle Research Institute.
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Comments [3]
That's a 14 TRILLION dollar swing in projections, from 5 trillion surplus in 2000 to 9 trillion deficit in 2009. Goes to show that most of what comes out of Washington is make believe. If I make a $100 mistake in my job I'd be fired in a heartbeat.
No question about it both Republicans and Democrats have proven to be complete economic failures.
It appears as if Ron Paul is the only one of the bunch that has a understanding of the future consequences of this travesty.
A nine thousand billion deficit means that the Obama admin has no clue as to how government interacts with the economy. Staying on this course will bankrupt the nation. Help!
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