Economic Devastation You Can Believe In

To paraphrase Dick Cheney, Reagan proved record deficits don't matter.

At least, the McCain-Palin campaign had better hope they don't matter.

Weak revenue growth and accelerated spending -- including an economic stimulus package that returned billions to taxpayers -- will drive the federal deficit to $407 billion in the fiscal year that ends this month, more than double last year's $161 billion, congressional budget analysts reported today.

With the economy expected to remain sluggish for at least the next several months, the next president will take office facing a projected deficit of $438 billion, budget analysts predict -- the largest in dollar terms in American history, exceeding the previous record of $413 billion in 2004. And that number could easily climb above $500 billion if Congress acts, as expected, in the coming months to restrain the growth of the alternative minimum tax, budget analysts said.

Way to go, Republicans.

Thanks for burdening future generations of Americans with the fruits of your incompetence.

John McCain was a POW.