The $3.8 Trillion budget being presented to Congress calls for a deficit of $1.6 Trillion.

In other words, 42% of what is proposed to be spent is NOT covered by off-setting income.

And, according to the Associated Press, “…administration officials argued that Obama inherited a deficit from President George W. Bush’s Republican administration that was already topping $1 trillion when he took office, and given the severity of the downturn, the president had to spend billions of dollars stabilizing the financial system and jump-start growth.”

It is true to President Obama did inherit a deficit topping a Trillion Dollars (remember, that is One Million times One Million), but that is not a reason to triple that amount in two years (i.e., a $1.4 Trillion gap this year and $1.6 Trillion in the coming year).

If anything, the inherited deficit should be a call to arms to get spending under control.

In all areas.

How will any future Main Street USA generation be able to cope with such massive debt?

Economics 101: Deficit spending does not reduce a deficit.

Over For Now.

Main Street One