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The Federal budget deficit is a government’s debt. It happens when an entity spends more money than what it has. A brief surplus of Clinton’s Administration has been replaced by the deficit of Bush’s Administration. Today, “the current account deficit is larger than it has ever been, close to 800 million dollars, which is 7% of US GDP” (Gongloff 1). The Federal Budget deficit is around 9 trillion dollars. As you can tell, the US government is in a serious debt, and with the government spending giants amounts of money in the Iraq War, Homeland Security, Tax cuts and other measures, it is going to keep feeding the US deficit, which is the largest it has ever been in history...
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