Purple People Vote

Out of control government spending is on display again as reports on the federal deficit show that it is shooting through the roof. The rate of deficit growth is at a level that is unsustainable for this country. Reports are to show that the deficit is between $1.6 trillion or $1.8 trillion. That’s $1,600,000,000,000.00

The federal deficit this year will total $1.58 trillion, a senior White House official said late Wednesday. That’s three times more red ink than last year. The official spoke on the condition of anonymity to discuss the report before its release next Tuesday while President Barack Obama will be on vacation in Massachusetts.

The nonpartisan Congressional Budget Office is expected to release its mid-session review the same day. It estimated in June that it expected a deficit of $1.825 trillion.

The report for the budget year that ends Sept. 30 also will predict Washington to spend $3.653 trillion this year, the official said. Revenue, however, would reach only $2.074 trillion.

The new deficit numbers are record shattering, but would give the administration the opportunity to say that its policies have avoided a more extreme financial crisis and eliminated the need for further bank infusions.

Still, the deficit amount is a tremendous obstacle for an administration trying to undertake massive policy overhauls in health care and the environment.

“Whether it’s $1.6 trillion or $1.8 trillion, it’s pretty bad,” said Robert Bixby, executive director of the bipartisan fiscal watchdog The Concord Coalition. “I hope no one tries to spin that as good news.”

Excerpt from Fox News Federal Deficit to Hit $1.58 Trillion This Year