$9,000,000,000,000 in the Hole (give or take a few trillion)

The mid-year review from the Office of Management and Budget, released Tuesday, estimates that the 2009 deficit will be $1.58 trillion, which is $262 billion less than officials predicted earlier in the year. But the 10-year projection rose to $9 trillion, while the Congressional Budget Office estimated the 10-year deficit at $7.1 trillion. .... But both offices warned that with higher deficits leading to higher national debt, in turn increasing the federal government's interest payments on that debt, the economy is in serious trouble.