Friday, December 4, 2009

Budget Deficit Hits Record

The budget deficit hit a record, but what do we do now?


The deficit for fiscal year 2009, which ended Sept. 30, came in at a record $1.42
trillion
, more than triple the record set just last year. In addition, future deficits are currently projected to total $9.1 trillion in the coming decade.


As a result of the budget deficit hitting a record, many republicans are saying Obama's health care plan is spending money we don't have.


It is hard to say what Obama should do. It takes spending to keep an economy going, but how do we know when to stop spending and where to cut back?