A few months ago I predicted that the deficit would be a half trillion dollars by the end of the year. In fact now, the Office of Management and Budget is predicting the budget deficit will be at $490 billion next year.
Well, I was off by $10 billion. But only for now. This Congress passes spending bills creating entirely new programs, spending or entitlements nearly every week. We may cross that half a trillion before the year is over. And with the socialized medicine programs that some are touting for next year, is a trillion dollar deficit coming?