Bushie's 2009 Budget and the Stimulus
The story is that Bushie will apparently propose a budget of more than $3 trillion with a projected federal budget deficit of $400 billion for 2009 and again for 2010. The last year under Clinton, the government spent under $1.8 trillion and had a budget SURPLUS of $236 billion.
So, Bushie was the first president in history to propose a $2 trillion budget and he just blew through that and is now going to propose a $3 trillion budget.
Congress is working out a "Stimulus" package which essentially will amount to the government sending checks to millions of Americans. Horrible idea because all it does is add another $150-$180 billion in borrowed money to the national debt and it does not encourage fiscal discipline. Essentially, the government wants to send checks so people will spend the money to try to jump start the economy. The problem is that people are so heavily in debt that they don't have money to do anything.
Because our government is running a deficit, we will have to borrow the money from the Chinese so that we can buy more of their crap.