July 13, 2009
ANOTHER GRIM MILESTONE: Budget deficit tops $1 trillion for first time. “The federal deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears about higher interest rates, inflation and the strength of the dollar.” Gee, do you think? (Via Michelle Malkin). The article tries to do a little spinning by blaming the wars in Iraq and Afghanistan, but what, exactly, makes those more expensive this year than last when Iraq, at least, is winding down?