WASHINGTON — A Bush administration official said Monday the next government will inherit a record federal budget deficit for next year that approaches $490-billion (U.S.).

The official said the deficit was being driven to record levels by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession. A deficit approaching $490-billion would easily surpass the record deficit of $413-billion set in 2004.

To read the rest of the article from the source click here, other wise here is my take. The Canadian national debt is roughly 725 Billion, click here for the running tally. It works out to just over 22K per average Canadian. Now compare that to our American neighbors, 9.5 Trillion or just over 31K per American.  Should we break out … Read more