By the time Barack Obama is inaugurated, George W. Bush's federal deficit will be near the all-time record high, which of course he also set. CBS news reports:
The Bush administration sent its final budget request to Congress last week, projecting that the deficit for all of 2008 will total $410 billion, very close to the all-time high in dollar terms of $413 billion in 2004.Remember when we had a surplus under Clinton? I'm just barely old enough to remember what it was like when our Federal government actually functioned.
Of course, just because they're out of power doesn't mean Republicans will stop playing political games. I want to make a prediction about the deficit: by this time next year, the Republicans will be calling it the "Obama deficit." You heard it here, folks. Once it happens, don't let them get away with it!
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