Check this out interesting piece on what's true and not on the defecit. Here's a sample: Article here. Record Deficit? Well not really. Despite what many newspapers are reporting as "record deficits" the current deficit is not a record breaker. However, when adjusting all budget surpluses and deficits to 2000 dollars another picture emerges (Note: While the OMB has data back to 1789 I am looking only at data from 1940 onwards). 1. Highest Budget Deficit: 1943 $486.2 billion. 2. Second highest Budget Deficit: 1945 $456.8 billion. 3. Third highest Budget Deficit: 1944 $448.2 billion. 4. Fourth highest Budget Deficit:...