Confirmation The Projected Deficit Is Way Too Low

The front page, right column, above the fold story in today's New York Times confirms that before it leaves office, the Bush administration will likely not reduce troop levels in Iraq and Afghanistan much below current levels. That means that all of the budget projections for military spending for fiscal 2009 and at least 2010 are way below what the actual number will be. Even assuming no escalation, 2010 military spending and, therefore, the deficit, could be more than $150 billion higher than current estimates.