Wednesday, July 15, 2009

$1,090,000,000,000

(beaufortobserver).The latest numbers are out from the Congressional Budget Office and they are "mind-boggling." The deficit (as opposed to The National Debt) topped $1,090,000,000,000.00 for the first time in human history. That's just "year-to-date." They also projected that it will hit $1.84 TRILLION in October, the end of the fiscal year.

Now this is the "deficit" not the total National Debt. The deficit is the difference between expenditures and income for just this year.

"These are mind-boggling numbers," said Sung Won Sohn, an economist at the Smith School of Business at California State University. "Our foreign investors from China and elsewhere are starting to have concerns about not only the value of the dollar but how safe their investments will be in the long run."

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"A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty" (Churchill)