$1.6 trillion deficit Archive

The Debt, The Deficit, and You

The White House recently projected a $1.6 trillion deficit for 2010.  The deficit is the amount of money the Congress borrows each year, whenever it spends more than it collects in taxes.  This $1.6 trillion is new debt, on top of "the federal debt” that you’ve been hearing about for years, and it’s...
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