Deficit only $1.1 Trillion This Year

House Budget Chairman Paul Ryan

Looking for a silver lining in a very dark cloud, the latest budget report, which was released on Tuesday, noted that the US government will run a slightly lower deficit than last year, coming out to only, gulp, $1.1 trillion for the fiscal year that ends in September.

The Congressional Budget Office was able to report additional good news, saying that the annual deficits will remain in the $1 trillion range for the next few years, but only if the tax cuts from President Bush’s presidential years will be extended, which is the assumption despite the fact that they will expire in December.

This report is the sad reminder that the government’s fiscal position is perilous indeed, but no matter. During an election year Obama and his fellow lawmakers will not go out on any limbs to accomplish much to improve the situation.

There is no shortage of blame however, within the walls of congress.

"Four straight years of trillion-dollar deficits, no credible plan to lift the crushing burden of debt," said House Budget Committee Chairman Paul Ryan, a Republican. "The president and his party's leaders have fallen short in their duty to tackle our generation's most pressing fiscal and economic challenges."

"We will not solve this problem unless both sides, Democrats and Republicans, are willing to move off their fixed positions and find common ground," said Senate Budget Committee Chairman Kent Conrad, a Democrat. "Republicans must be willing to put revenue on the table."

Alyssa Anderson

Alyssa Anderson has been involved in the world of business on several levels for many years. She was the CEO of a start-up high-tech company until its purchase by a global on-line e-business. Alyssa helped formulate marketing strategies for several other companies as an independent consultant, and she has advised local government on methods to achieve appropriate fiscal responsibility. Her opinions are well known through her many editorials which have been published throughout her career in a variety of local and national print media. She has been heard on radio discussing current issues affecting the business community and Alyssa hopes to bring her special brand of commonsense coupled with uncanny insight into her editorial responsibilities as the Business Page editor for Left Justified. Contact Alyssa at alyssa(at)

View all posts by Alyssa Anderson →