Daily Archives: August 26, 2009

Do Deficits Matter? We’re All About to Find Out.

Most red ink ever: $9 trillion over next decade

By JIM KUHNHENN, Associated Press Writer

Tuesday, August 25, 2009

(08-25) 21:30 PDT WASHINGTON (AP) —

In a chilling forecast, the White House is predicting a 10-year federal deficit of $9 trillion — more than the sum of all previous deficits since America’s founding. And it says by the next decade’s end the national debt will equal three-quarters of the entire U.S. economy. More…