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Federal Deficit Hits The Stratosphere!

Just in case you missed it...the federal deficit for 2009 has hit the one trillion dollar mark! And there are still three months left in the fiscal year.

 

 

 

Just in case you missed it...the federal deficit for 2009 has hit the one trillion dollar mark! And there are still three months left in the fiscal year.

Don't confuse the federal deficit with the national debt. The national debt stands at 11.4 trillion dollars, or about $37,000 for each and every American. That's $148,000 for my family.

The national debt reflects how much our country owes overall. The federal deficit for one trillion dollars is just for this year so far! It stood at $285.85 billion for the same nine-month period a year ago.

So, are things getting better or are they getting worse? The Obama administration estimates the federal deficit to hit about $1.84 trillion by the end of the fiscal year.

How long do you think our country can keep up this unprecedented spending without heading for an all out financial disaster?

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