The federal deficit is out of control:
"The March deficit of 192.27 billion dollars was higher than the 160 billion dollars expected by most analysts, coming on the back of money poured by President Barack Obama’s administration to rescue financial institutions. . . .
The nonpartisan Congressional Budget Office (CBO) forecast last month the budget deficit could hit 1.845 trillion dollars for the whole year based on Obama’s 3.5-trillion-dollar budget plan approved by Congress early this month.
The CBO said its budget deficit estimate for fiscal 2009, which ends on September 30, would be four times the 2008 record shortfall and amount to 13.1 percent of the country’s total economic output." (Briebart)
As you can see from the chart, Pres BO policies are taking us into "uncharted waters" with respect to the deficit. The key is the deficit relative to GDP, i.e. 13% of GDP is scary and unprecedented since the depths of WW2!
