Growing Federal Deficit Alarms Some
Economists warn the deficit is becoming a larger part of the total U.S. economy or gross domestic product.
By Molly Henneberg
FOXNews.com
Wednesday, July 15, 2009
Economists warn the deficit is becoming a larger part of the total U.S. economy or gross domestic product.
By Molly Henneberg
FOXNews.com
Wednesday, July 15, 2009
The Obama administration's projected deficit for this fiscal year that ends September 30 has hit a jaw-dropping $1.84 trillion dollars.
That's enough to buy 397 billion gallons of regular gasoline, 48 gallons of milk for each of the 7 billion on the planet or 45 million brand new 2010 Ford Mustangs.
Economists warn the deficit is becoming a larger part of the total U.S. economy or gross domestic product.
"The last time we had a really large deficit was in the early '80s, when it was about 5 percent of the GDP," said economist Alex Brill of the American Enterprise Institute. "Now it's 13 percent of GDP."
That's enough to buy 397 billion gallons of regular gasoline, 48 gallons of milk for each of the 7 billion on the planet or 45 million brand new 2010 Ford Mustangs.
Economists warn the deficit is becoming a larger part of the total U.S. economy or gross domestic product.
"The last time we had a really large deficit was in the early '80s, when it was about 5 percent of the GDP," said economist Alex Brill of the American Enterprise Institute. "Now it's 13 percent of GDP."
HOW MUCH MORE CAN THE U.S. TAKE!
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