It almost seems quaint now that he/we were stressing over budget deficits of under half a trillion a year [Jul 28, 2008: US Budget Deficit to Half a Trillion] back in the "good ole days", when we just finished off a year of roughly $1.5 trillion, with $1 trillion+ deficits ahead of us for as long as the eye can see... [USDebtClock.org]
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Earlier David Walker related (all worth your time)