The Budget Deficit: How Did We Get Here?

President Obama announced a $3.83 trilion budget today that he hopes will fight unemployment while freezing spending on some government programs. It's a huge price tag, and it's worsening an enormous, record-setting budget deficit -- $1.6 trillion. Many people are now asking how we got here. Especially when it was not long ago that we had a surplus. Here's a breakdown of the recent history: In 2000, when President Clinton left office, the U.S. was in the black by $236 billion. At the...Full Story
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