Last year, fiscal year 2008, the deficit was $455 billion, the worst deficit of US history. However, this year, that record could be crushed as the Obama White House and Congress project could be $1 trillion to $1.5 trillion, if not more. National Debt is currently over $6 trillion and going up.
The fiscal mess we are in today is caused by those in Washington that promise their constituents
everything to get elected and cannot make the hard choices to keep the government fiscally strong. It also does not help that the current President preaches fiscal discipline but has already sign a huge stimulus plan that won't stimulate anything and other legislative bills that spend even more.
When Obama promised hope and change, the change was the money we will have to pay to the government in forms of higher taxation, while the hope was for government bureaucrats who will delight in an ever expanding national government.
