There seems to be no end to the damage that the Bush Administration and associated conspirators. The Huffington Post reports about yet another national “record” set by King George and his merry men in Bush Leaving Next President Record Federal Budget Deficit. From the article:
WASHINGTON — The government’s budget deficit will surge past a half-trillion dollars next year, according to gloomy new estimates, a record flood of red ink that promises to force the winner of the presidential race to dramatically alter his economic agenda.
The deficit will hit $482 billion in the 2009 budget year that will be inherited by Democrat Barack Obama or Republican John McCain, the White House estimated Monday. That figure is sure to rise after adding the tens of billions of dollars in additional Iraq war funding it doesn’t include, and the total could be higher yet if the economy fails to recover as the administration predicts.
The result: the biggest deficit ever in terms of dollars, though several were higher in the 1980s and early 1990s as a percentage of the overall economy.
Unfortunately, this sets our next President up for an apparent failure. Even if we can remove Republicans from power, it will take a lot of effort to address the core issues. I hope that it will be done and that the American people will place their blame where it belongs.