Aug 25, 11:22 PM EDT
Most red ink ever: $9 trillion over next decade
By JIM KUHNHENN
Associated Press Writer
WASHINGTON (AP) — In a chilling forecast, the White House is predicting a 10-year federal deficit of $9 trillion – more than the sum of all previous deficits since America’s founding. And it says by the next decade’s end the national debt will equal three-quarters of the entire U.S. economy.
But before President Barack Obama can do much about it, he’ll have to weather recession aftershocks including unemployment that his advisers said Tuesday is still heading for 10 percent.
via News from The Associated Press.
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