The New York Times details “the largest budget deficit the nation has ever known.” (Download PDF) When President Bush took office, the budget was $281 billion in the black, with a cumulative surplus of $5.6 trillion projected to pile up by 2011. Since then, the sluggish economy, three rounds of tax cuts, and the post-9/11 spike in defense spending that—according to the Congressional Budget Office—will slide to the current estimate of a $2.3 trillion deficit. For those keeping score at home, that $8 trillion red ink swing in the projections is about equal to the total revenue the federal government collected between 1789 and 1983. Republicans want to cut taxes to spur the economy. Democrats want to increase spending to pay the bills. Voters want easy answers requiring little sacrifice. “When President Bush informed the nation last Sunday night that remaining in Iraq next year will cost another $87 billion, many of those who will actually pay that bill were unable to watch. They had already been put to bed by their parents.” (via Slate)