The budget deficit for the first three months of the year is already larger than all of last year.
NEW YORK (CNNMoney.com) -- The federal budget deficit expanded by $83.6 billion in December, the Treasury Department reported Tuesday, bringing the total deficit for the first three months of the 2009 fiscal year to $485.2 billion.
By comparison, the budget deficit for all of fiscal year 2008 was $455 billion. In fiscal 2007, it was $161 billion.
It's a good thing we have no intention of ever paying off all that debt, otherwise this would be an immoral thing to do to our children.