Welcome to the American Peso

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The Congressional Budget Office has projected that the US Gov will run a $1.2 TRILLION deficit this year.

I was guessing it would be around $1 Trillion, but to know that is what we are going to see, to think about the enormity of that debt.. It's staggering.

Amazingly, everyone seems to think that the way to get out of a problem caused by over leverage, cheap credit, and irresponsible lending is overspending and irresponsible lending. Do people assume that the US govt. is immune to the same problems that Lehman, Bear, AIG, Freddie, and Fannie have faced.

We're all screwed.

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