How's That Hope-n-Change Working For The Economy?

Guess (emphasis mine)...and remember, this is before ObamaKennedyDeathCare and cap-n-tax:

According to the Congressional Budget Office's Monthly Budget Review:

CBO estimates that the federal budget deficit was about $1.4 trillion in fiscal year 2009, $950 billion greater than the shortfall recorded in 2008. The 2009 deficit was equal to 9.9 percent of gross domestic product (GDP), up from 3.2 percent in 2008, and was the highest shortfall—relative to the size of the economy—since 1945. The substantial increase in the deficit resulted from both declining revenues and increased spending. Revenues in 2009 were almost $420 billion (or 17 percent) below receipts in 2008 and totaled about 15 percent of GDP, the lowest level in over 50 years. At the same time, outlays increased by over $530 billion (or 18 percent) in 2009, to nearly 25 percent of GDP, the highest level in over 50 years.

Note that the spending increase is larger than the revenue drop. Also, unlike 60 years ago, the deficit is likely to stay high, very high, for many years to come. As we know, the Obama administration claims that it inherited the deficit. But that is only partially true. As my (pre-health-care-reform cost) chart shows, his administration is responsible for a shank of the 2009 deficit (in red on the chart) and it is certainly working really hard to keeping the deficit high in upcoming years.

Ooooh...look at all the pretty red...!  Da, is beautiful, Comrade!

There's my two cents.