$1.3 Trillion in Deficits Forecast Over Decade

The CBO's annual report on the budget outlook foresees a deficit of $400 billion this year. It also forecast a cumulative deficit of $1.3 trillion from 2005 to 2014. That, my dear humans, is an increase of nearly 60% from the CBO's $861-billion estimate of just four months ago.

Additional war spending will push the federal deficit to $427B for fiscal 2005. In contrast, China's economy grows 9.5 percent in 2004 vs 9.3 percent in 2003.

I think we can hazard a guess as to where quite a bit of American money is going.