"If President Bush succeeds in making his 2001 and 2003 tax cuts permanent, the deficit could reach nearly $3.5 trillion over the next decade, with the tax cuts alone costing the Treasury $295 billion a year by 2014, CBO said.
Even without that change, the government's long-term finances have worsened considerably in the past six months, largely due to the war in Iraq and passage of the $400 billion law adding a prescription drug benefit to Medicare. In August, congressional forecasters predicted a 10-year deficit of $1.4 trillion through 2013. That figure has jumped nearly a trillion dollars since then. "
Read more here: http://www.washingtonpost.com/wp-dyn...l?nav=hptop_tb
so...Will the deficit be a serious issue in the campaign? Or is Cheney right that Reagan taught us "deficits don't matter"?