Today's topic: Budget deficits.
Today's target: Those who appropriate funds.
For those of you who don't know, the President of the United States does not appropriate a budget. Rather, it's Congress that appropriates funds for the government.
In 2007, the budget deficit was $163 billion.
In 2008, the budget deficit is forecast to be $389 billion.
Political party controlling Congress: Democrats
Why this is important:
Interest payments on federal debt: $250 billion in 2008 (estimated)
Interest payments are the fourth (4th) largest spending item in the 2008 budget.
I'd normally go off on a point about how Obama has been a part of this problem, but quite honestly, he's been out campaigning for what, twelve years now? I'm not even sure he knows what an appropriations vote is.
Let's remember to point out the obvious when we report deficit and debt numbers. The President can submit a budget request, but it's the Congress that determines how much spending will be done. And Congress - run by the Democrats - doesn't get it.
-- Submitted by R Wellesley