severe recession is worse

Last year we lost two million jobs, this year we are on track to lose three million and maintaining global financial stability becomes more difficult as a severe recession turn into a deep depression. At home our federal budget deficit for 2009 is marked to soar the height of 1.2 trillion dollars, this is an 160% increase from the already high 2008 deficit of 455 billion dollars, yes and we are not count the bank bailout of 850 billion dollars in that figure.

I predict that as people lose their jobs, there will be more foreclosures bringing down even more banks. This will have a ripple effect as the economy gets worse.