455 Billion. But they will decline. Now, Max Sawicky will tell you deficits don’t matter much, but the reality is that the conditions he always places on good deficit spending assumes some sort of investment being made–but we aren’t making investments of any consequence and we are spending money we need to prepare for the Boomer retirement.
I’m not even going to bitch about Bush’s spending because, well, I’m tired of it. If you want to spend, you have to tax. He wants it both ways and of all possible solutions, that is the worst long term solution.