is now 
In case you missed the final 2012 federal budget release, the feds spent another $1.1 trillion more than they collected during the fiscal year that ended September 30. This is the biggest deficit since World Ward II, other than the past three years.
Federal spending remains at a new high at about $3.54 trillion, or some $800 billion more than the last pre-recession year of 2007. In its article The Hard Fiscal Facts, the Wall Street Journal reports that even were President Obama to get all the tax-rate increases he wants to levy they would only create $82 billion in extra revenue while slowing the economy’s growth. Many experts agree improving economic growth is the only solution to the extreme deficit.
