5by5
Sep 9 2008, 10:57 AM
http://news.yahoo.com/s/ap/20080909/ap_on_.../budget_deficitQUOTE
The Congressional Budget Office released figures Tuesday that indicate the red ink will spill over into next year, when the deficit would reach a record $438 billion — and could go even higher as the government takes over mortgage giants Fannie Mae and Freddie Mac.
The economy will grow 1.5 percent this year in real terms and slip to just 1.1 percent growth in 2009, CBO predicts
There's the Republican legacy for ya.
GCurry
Sep 9 2008, 11:05 AM
S.B. "Deficit" in title
NoYards
Sep 9 2008, 11:07 AM
And let me guess, that's NOT including the cost of the war.
jammonius
Sep 9 2008, 11:16 AM
Do posters think Obama will latch onto this information as a campaign issue? Should he?
pestone
Sep 9 2008, 11:23 AM
QUOTE (jammonius)
Do posters think Obama will latch onto this information as a campaign issue? Should he?
Yes, and Absolutely.
jammonius
Sep 9 2008, 12:45 PM
QUOTE (pestone @ Sep 9 2008, 12:04 PM)
Yes, and Absolutely.
And, it also appears Lehman Bros. may be on its way under. See:
http://news.bbc.co.uk/2/hi/business/7606946.stmPlus, the fallout from the 'conseratorship' of Fannie and Freddie hasn't really started as yet.
The polls that some are fretting about that show McCain gaining appear to be utterly disconnected to any of the real news going on these days.
RandiLover
Sep 9 2008, 12:50 PM
I just started another thread on this topic, we were thinking the same thing. 400+200 for the bailout, 12 x 12 = 144 billion for this year of war, the deficit is 750 billion a damn year. We will no longer have money to spend in just a few years. I doubt we will be able to finance a trip to Mexico for the mayor of San Diego the next election cycle.
5by5
Sep 10 2008, 12:19 PM
Well you might not have any roads upon which to drive to get there, at the Highway Fund is broke, and my old Senator Patty Murray has been trying to sound the warning alarm about this for the past TWO YEARS.
The solution? Blocked by the Republicans repeatedly.
Natch.
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