U.S. deficit estimated at $250 billion "DemoRats" blame Bush!

The deficit for the current budget year will jump to about $250 billion, the Congressional Budget Office estimated Wednesday, citing the weakening economy. And that figure does not reflect at least $100 billion in red ink from an economic stimulus measure in the works."After three years of declining budget deficits, a slowing economy this year will contribute to an increase in the deficit," the CBO report said.

The figure greatly exceeds the $163 billion in red ink registered last year. Adding likely but still unapproved outlays for the wars in Iraq and Afghanistan brings its "baseline" deficit estimate of $219 billion to about $250 billion, the nonpartisan CBO said.Senate Budget Committee Chairman Kent Conrad, D-N.D., said the 2008 deficit would reach more than $350 billion once the costs of an upcoming economic stimulus measure under negotiation between the Bush administration and Congress are factored in.


~So the question is what is causing the deficiet the democrats and the left blame it on the war the argument goes something like this "if it were not for Bush and this "illegal" Iraq we would somehow be using that moneyfor roads and jobs here in the US. But how honest is this statement?

Lets take a peek!

The biggest expense in the US Budget is Social Security $608/billion for 2008.

Medicare is 3rd at $386/billion and the welfare social programs add up to $324/billion.

Together, they cost the US Taxpayer $1.318/trillion dollars.

That is nearly 50% of all the money the US collects in taxes.

So you tell me, Who's at Fault?

FDR and the Liberals with their socialist programs to save the world are costing us our arms, legs, and heads. Blame Bush all you like, but this problem won't be solved and will only get worse as the baby boomers retire (ie: stop working and paying taxes) and begin edging up Social Security and Medicare.

Estimated receipts for fiscal year 2008 were $2.66 trillion.

* $1.25 trillion - Individual income tax
* $927.2 billion - Social Security and other payroll taxes
* $314.9 billion - Corporate income tax
* $68.1 billion - Excise taxes
* $29.2 billion - Customs duties
* $25.7 billion - Estate and gift taxes
* $50.7 billion - Other

* Mandatory spending: $1.527 trillion (+4.2%)o $608 billion (+4.5%) - Social Securityo $386 billion (+5.2%) - Medicareo $209 billion (+5.6%) - Medicaid and the State Children's Health Insurance Program (SCHIP)o $324.0 billion (+1.8%) - Unemployment/Welfare/Other mandatory spending* Discretionary spending: $1.114 trillion (+3.1%)o $481.4 billion (+12.1%) - United States Department of Defenseo $145.2 billion (+45.8%) - Global War on Terroro $69.3 billion (+0.3%) - Health and Human Serviceso $56.0 billion (+0.0%) - United States Department of Educationo $39.4 billion (+18.7%) - United States Department of Veterans Affairso $35.2 billion (+1.4%) - US Department of Housing and Urban Developmento $35.0 billion (+22.0%) - State and Other International Programso $34.3 billion (+7.2%) - Department of Homeland Securityo $24.3 billion (+6.6%) - Energyo $20.2 billion (+4.1%) - Administration of justiceo $20.2 billion (+3.1%) - Department of Agricultureo $17.3 billion (+6.8%) - National Aeronautics and Space Administrationo $12.1 billion (+13.1%) - Department of Transportationo $12.1 billion (+6.1%) - Department of Treasuryo $10.6 billion (+2.9%) - United States Department of the Interioro $10.6 billion (-9.4%) - United States Department of Laboro $51.8 billion (+9.7%) - Other On-budget Discretionary Spendingo $39.0 billion - Other Off-budget Discretionary Spending* Net interest on debt: $261 billion (+9.2%)

Next time Democrats open there big mouth let them know that Nearly 60% of your taxes goes to social programs. The remaining 40% goes to everything else from Defense to Farm Aid.