Academic

ANOTHER GRIM MILESTONE: Budget deficit tops $1 trillion for first time. ?The federal deficit has t?

By Glenn Reynolds

ANOTHER GRIM MILESTONE: Budget deficit tops $1 trillion for first time. “The federal deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears about higher interest rates, inflation and the strength of the dollar.” Gee, do you think? (Via Michelle Malkin). The article tries to do a little spinning by blaming the wars in Iraq and Afghanistan, but what, exactly, makes those more expensive this year than last when Iraq, at least, is winding down?

Full post as published by Instapundit.com on July 13, 2009 (boomark / email).