DESTRUCTION OF AMERICA CONTINUES WITH RECORD BUSTING FEDERAL BUDGET DEFICIT OF $1.5 TRILLION PREDICTED FOR 2011!!! NO END IN SIGHT TO SPENDING!!

A new estimate predicts the federal budget deficit will hit almost $1.5 trillion this year, a stunning new record.

The latest figures from the Congressional Budget Office are up from previous estimates because Congress and President Barack Obama teamed up in December on bipartisan legislation to extend Bush-era tax cuts that were due to expire. The new estimates will only add fuel to a raging debate over cutting spending and looming legislation that's required to allow the government to borrow more money.

The nonpartisan budget agency predicts the deficit will drop to $1.1 trillion next year. Wow what a predicted drop....still larger than the economies of all but the top countries of the world.

Legislation passed in December to extend tax cuts, unemployment benefits for the long-term jobless and provide a 2 percent payroll tax cut this year adds almost $400 billion to this year's deficit.

What exactly was the point of decreasing the SOCIAL SECURITY withholding since it only makes the future payouts ever more onerous? The genius Mr. Obama, said in the State of the Union Speech that he lowered our taxes by 2%..but did not mention that this also lowered the amount available for payout by the same amount...so what was the point of this???. This is not a lowering of anything but a cruel deception.


THE USA IS ON A SLIPPERY SLOPE WITH THESE FANTASTIC AND UNHEARD OF DEFICITS THAT NO COUNTRY IN THE HISTORY OF THE WORLD COULD BEAR.

This irresponsible fiscal policy will destroy the dollar, will cause all consumers to pay more for everything that is purchased and will create a serious erosion in the dollar's standing as a global trading currency.

As Rick Santelli said, " STOP SPENDING, STOP SPENDING, STOP SPENDING!!!".