Cost and Effect: Budget Deficit Largely Due to War Spending

The federal budget deficit for November rose dramatically when compared with a year ago.

According to the AP, "The Treasury Department reported Wednesday that the budget deficit for November totaled $98.2 billion, a record for the month. That was up 34.5 percent from a deficit of $73 billion set in November 2006.

economists are forecasting that the deficit will rise this year under the impact of a weaker economy, which they expect to depress government revenues, and increased spending on the wars in Iraq and Afghanistan.

For the first two months of the 2008 budget year, receipts have totaled $329.2 billion, up 5 percent from the same two months last year. Government spending totaled $483 billion, an increase of 10.8 percent from the same period last year, although that gain reflected the shift in benefit payments into November instead of December."

In a world that likes to think of Democrats as "Tax and Spenders" and Republicans as "Fiscally Responsible," it is clear that the shoe is on the other foot. Albeit, it appears that the Democratic jackassed leadership may be aiding and abetting the elephants in the room.