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Will record U.S. deficit spending suggest a deepening dollar crisis?
*Bloomberg, by Roger Runningen and Brian Faler, February 4, 2008
“President George W. Bush sent Congress a $3.1 trillion federal budget that trims Medicare and health care programs, boosts military spending and projects the deficit this year and next will hit near-record levels.
The spending blueprint for fiscal 2009 is the biggest ever of his presidency. It would slow the growth rate of spending for entitlement programs such as Medicare by $208 billion over five years. Pentagon spending would rise 7.5 percent to $515 billion, the 11th consecutive year of increases.”
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