The Problem: The USA has maxed out our Credit Cards, tapped out our friends for loans, and will soon have to start “selling the farm” to meet our Debts.
$1.3 Trillion in Deficits Forecast Over Decade
By Joel Havemann, Times Staff Writer
Jan 25, 2005
The [Congressional Budget Office] CBO's annual report on the budget outlook foresees a deficit of $400 billion this year. It also forecast a cumulative deficit of $1.3 trillion from 2005 to 2014, an increase of nearly 60% from the CBO's $861-billion estimate of just four months ago.