President Bush's proposed $3.1 trillion budget may be dead on arrival in Congress, but the impact of that political deadlock will make life difficult for the man or woman who succeeds him. The next president will inherit a deficit of about $400 billion, and maybe more. Unless the economy rebounds and revenue pours in, deficits will push the cumulative federal debt past $12 trillion in the next five years. (USA Today, Tuesday)
Out of control.
FEE Timely Classic
Deficits Are Not the Only Problem by Bill Anderson