Call Us Today!
See your savings in just five minutes! Get debt help today!

White House Says Largest Deficit Ever in 2009

With all the talk of a bad economy, and a possible recession, the last thing we need to hear is more depressing news right? Well, it turns out that the White House is predicting that 2009 will hold the largest deficit ever. This is obviously not something that we all should be cheering about. A deficit is not good, and we need to make sure our leaders are doing all they can for us. What does this largest deficit in 2009 mean, and how will it affect us? This is something that we need to figure out so that we can be prepared for the future. The following is some information that you can read through to help yourself along with this.

What Does This Mean?

The federal deficit is the difference between what the government is spending and what it takes in from taxes and other revenue streams. In order to make up the difference, the government must borrow the money. This projected deficit would be the largest in terms of dollar value, but in terms of the relation to the Gross Domestic Product it would be below 2004. It also would not come close to the record deficit of 1983. This just means that our government is currently spending more money then they can do at this time.

How Did it Come to This?

Obviously the War in Iraq and Afghanistan is taking up a lot of money, but there are other factors that come into play. A poor economy does not help any on the government’s money intake. One thing that can also have a bad effect are the stimulus checks that the Nation received this year. That money had to come from somewhere. In order to help people through this economy a negative effect was felt as far as a deficit goes. It is just a time when you might have to take the good with the bad. The stimulus money had to come from somewhere and now we are finding out that there was not enough money to cover it.

What Can We Do?

Well, you need to make sure that your stimulus checks were used in a beneficial way. If the deficit is going to grow because of it then the least you can do is use it wisely. Also, you need to write your Representative or Congressman if you have any concerns. This may sound old fashion, or out of date, but it does still work. Let them know your concerns, or how you are feeling the effects of the deficit. Sometimes all Washington needs is to realize that people have concerns. The best way to stop a deficit is by stopping the spending.

Additional Resources:

Tell Us About Your Current Debt...
Type of Service:
First Name:
Last Name:
Debt Consolidation Tools
Learn the basics of debt consolidation, negotiaion, and debt management.
[click here...]
Information about additional ways to lock down your finances while consolidating.
[click here...]
Get back in control of your day-to-day spending with this handy budgeting guide.
[click here...]