“The budget office’s revised deficit projections bring the expected shortfall this fiscal year, which ends Sept. 30, to $1.84 trillion, from a February projection of $1.75 trillion. For the 2010 fiscal year, the new estimate is $1.26 trillion, up from $1.17 trillion.” (New York Times, Tuesday)
They’re borrowing almost half the 2009 budget.
FEE Timely Classic
“What Spending and Deficits Do” by Henry Hazlitt
