PRESS RELEASE

LIBERTARIAN U.S. SENATE CANDIDATE BUCKLEY COMMENTS ON CBO’S DEFICITS ANNOUNCEMENT

Atlanta, Georgia – September 11, 2008

On Tuesday, September 9, 2008, the Congressional Budge Office (CBO) estimated the budget deficit for the current fiscal year at $407 billion. CBO estimated the deficit for next fiscal year to be $438 billion. Thus, the anticipated aggregate deficit for the two-year period is $845 billion. These figures do not include special appropriations. So, the total additional debt to be incurred will be much greater.

Prior to 1981, the accumulated debt of the U.S. never exceeded $1 trillion. Now, it is almost $10 trillion.

The first group of baby-boomers is entitled to Medicare beginning in 2011. Additional batches are added each year thereafter.

Allen Buckley, the Libertarian Party’s candidate for U.S. Senate, said the following: “Because long-term U.S. Treasury bills generally bear approximately a 5 percent interest rate and there are approximately 115 million households in the U.S., the average household will have to pay approximately $367 in interest alone (i.e., without repayment of principal) for each year because of the $845 billion of debts incurred in two years. With the baby-boomers retiring soon, we need fiscally conservative leaders. I’m the only fiscal conservative in the Georgia U.S. Senate race.”

Mr. Buckley’s website is www.buckleyforsenate.com. He can be reached for comment at (404) 962-1042.