$ 2.9 Trillion - hard to comprehend!

The federal budget deficit just keeps shrinking

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The White House is projecting that its new budget will eliminate the deficit by 2012 assuming Mr. Bush's tax cuts are extended after 2010. We don't put much stock in future budget forecasts because they depend on so many variables. But even CBO predicts the deficit should remain near or below 1% of GDP for the rest of the Bush Presidency. That's well below the 40-year average of 2.4% of GDP.

Bush Releases Budget Aimed to Erase Deficit

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Washington
Bush Releases Budget Aimed to Erase Deficit
By SHERYL GAY STOLBERG
Published: February 6, 2007
President Bush’s budget sets up a clash with the Democratic-run Congress and charts a course for Republicans long after he leaves office.

Budget Request Doubles Spending on Replacing Military Equipment

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Washington
Bush’s 2008 Budget Request Doubles Spending on Replacing Military Equipment
By DAVID S. CLOUD
Published: February 6, 2007
More than a quarter of the money the Bush administration is requesting for military operations would go toward repairing and replacing military equipment.