# Federal Budget Deficits

A Problem of Priorities and the 15% Sensible Solution

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.




LA Times

$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.

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