Massive 9 trillion deficit this year

Massive debt spending economy which is much worse than ever before and which would destroy the United States at the current rate of massive American wealth is deteriorating. I commented on the rising deficit and national debt on previous comments, and the 9 trillion deficit in 2009 in reality is fairly assessed figure, in my opinion as those who are trained to make educated estimation and forecasts would see the number.


G.Summers essay is describing the current economic situation well, as I repeated noted on previous posts on the same issues.

Uncle Sam doesn’t.
John Williams of www.shadowstats.com notes that official US deficit statistics do NOT include net present value of unfunded social security OR Medicare expenses. A lot of folks have made a big deal about the US running a $1 trillion deficit this year. Well, if you included the net value of those unfunded Social Security and Medicare expenses we cleared a $1 trillion deficit in 2007, a $5 TRILLION deficit in 2008 and are on course to clear a $9 TRILLION deficit this year.

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Monday, June 08, 2009 8:47:40 AM
Obama debt spending spree which will eventually cause detrimental effects. Real current deficit would be running up to 4+ trillions adding to existing national debt.
http://www.cnbc.com/
President Barack Obama promised Monday to deliver more than 600,000 jobs through his $787 billion stimulus plan this summer, with federal agencies pumping billions into public works projects, schools and summer youth programs.

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