Last year’s deficit was over $1.4 trillion – three times higher than the previous record high.  This year’s budget deficit is expected to be similarly historic.  According to the Congressional Budget Office (CBO), the Obama Administration’s fiscal year 2010 budget proposals would produce deficits averaging more than $900 billion a year through 2019.  In fiscal year 2009, the publicly-held federal debt grew 30% and is now equal to 53% of GDP. It’s expected to hit 70% by 2020.

As each day passes, more Americans realize that the debt is the threat. FULL STORY

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