Obamanomics: US Set For Another $1 Trillion Deficit

Obamanomics: US Set For Another $1 Trillion Deficit

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...