In its discussion of President-elect Obama's proposed stimulus package the Post told readers that "the annual federal deficit is already spiraling towards $1 trillion."
It's not clear where this trillion dollar figure came from. It is much higher than the most recent CBO estimate, which is $438 billion. The Post may be including the money for the bank bailout, however this would be misleading. The government is getting assets for this money and will at most lose a fraction of the $700 billion appropriated.
The article also asserts that this spending may make it more difficult for the government to pay for Medicare and other programs in future years. This is not clear. If the stimulus boosts the economy it will lead to more tax revenue in future years. More importantly if it makes the economy stronger and prevents a prolonged downturn, it will make it much easier to raise the revenue for Medicare and other obligations in future years.
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