In response to:

Obamanomics: US Set For Another $1 Trillion Deficit

John912 Wrote: Aug 08, 2012 4:24 PM
Certainly B.O. will do as you say. However, just as there are laws of Physics that when people try to break these laws they break them, so to, there are laws of economics that can't be broken or they will break economies small and large eventually. They can only borrow, spend and the fed buy up Treasury Bonds backed by nothing so long before people, institutions and other gov'ts stop proping our gov't up. The results will be far far worse than Greece or European countries' economic problems.

It's only August but the Congressional Budget Office is predicting the United States will see another $1 trillion deficit before we hit October. The federal government has posted $1 trillion deficits every year since President Obama took office and the Democrat controlled Senate hasn't passed a budget in more than 1100 days. No budget means not knowing how much is being spent. In 2008, the deficit was less than $500 billion. The national debt stands at nearly $16 trillion.

The nonpartisan Congressional Budget Office (CBO) on Tuesday estimated that the federal budget deficit stands at $975 billion...