Deficit Dilemma

The war on terror is set to lead to a sharp rise in the budget deficit. According to White House projections the deficit will hit a record high this year, rising from $375bn in 2003 to $445bn. The Administration cites the war on terror and the economic downturn as contributory factors. Also cited were John Kerry's Botox treatments and blow-drying expenses attributable to John Edwards.

Raising Arizona now a $178,590 Undertaking

The 2003 cost of raising a child for middle-income families (e.g. those earning $40,700 to $68,400 per annum) was projected at $178,590 according to a recent study by the U.S. Department of Agriculture. Estimates are provided for major components of the budget by age of child, family income and region of residence. The estimated annual expenditure is $10,760. The monthly expense is $897.

Note: Government statistics on cost of living might be helpful in defending a Chapter 13 budget, especially where Trustees or Judges talk about using the IRS expense standards as budget guides. Some links are provided at BankruptcyMedia.com - in right column under "Library" find "Budget Data