200px|The US National Debt Clock in New York City.The United States 2008 federal deficit has reached a record high, $454.8 billion--more than double last year's deficit. Financial experts believe that next year the deficit will reach over $ 700 billion, while the National Debt Clock has recently run out of digits to record over $10 trillion in national debt. Jim Nussie , director of the Office of Management and Budget said that he believes that the deficit will start to decline. "The bipartisan stimulus bill and the slow economy are the primary reasons for the increase in deficit as reflected in this year's budget results. This increase reinforces the need to adopt and maintain policies that promote economic growth and fiscal responsibility, including entitlement reform and pro-growth tax policies. I am confident the economy can return to stronger growth with a declining deficit - after working through current challenges - if Congress limits wasteful and excessive spending."
200px|The US National Debt Clock in New York City.The United States 2008 federal deficit has reached a record high, US$454.8 billion—more than double last year's deficit. Financial experts believe that next year, the deficit will reach over $ 700 billion, while the National Debt Clock has recently run out of digits to record over $10 trillion in national debt. Jim Nussle , director of the Office of Management and Budget said that he believes that the deficit will start to decline. "The bipartisan stimulus bill and the slow economy are the primary reasons for the increase in deficit as reflected in this year's budget results. This increase reinforces the need to adopt and maintain policies that promote economic growth and fiscal responsibility, including entitlement reform and pro-growth tax policies. I am confident the economy can return to stronger growth with a declining deficit — after working through current challenges if Congress limits wasteful and excessive spending."
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$454.8 billion--more than double last year's deficit. Financial experts believe that next year the deficit will reach over $
US$454.8 billion—more than double last year's deficit. Financial experts believe that next year, the deficit will reach over $
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Nussie
Nussle
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