>>>The $500 Billion is just the budget deficit for that budget which is for fiscal year 2005 that begins October 1st of this year. Each budget deficit contributes to the overall accrued debt or National Debt which continues to spiral.
>>
>>It seems like it was only a few months ago that they were talking about a huge
surplus. Was it the war that changed this?
>>
>>Do you have approximate figures for the accumulated deficit?
>
>The National Debt Ceiling was raised to $7,384,000,000,000 on May 27, 2003. The figures for the actual total debt can be found here:
>
>
http://www.whitehouse.gov/omb/budget/fy2005/sheets/hist07z1.xls>
>During Clinton's 8 years, contrary to popular belief, the gross National Debt increased by $1.6 TRILLION. Under Bush so far, the debt has increased $1.1 TRILLION. At the end of this fiscal year, the total gross debt is projected to slightly excede the current limit I gave above, so Congress will have to extend the ceiling again.
>
>Scary numbers indeed!
Any idea which part of the nation is worth that much?
Groet,
Peter de Valença
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