1.   And the federal budget deficit rose to its highest level ever.

2.   Budget deficits are rising quickly.

3.   But the deficit rose anyway -- albeit less than it would have -- because of the stubborn recession.

4.   Democrats said that beginning in the eighth year, the deficit would rise again.

5.   Either way, the deficit will eventually rise again, to large numbers, early next century.

6.   It also highlighted concern that as European economies slow, deficits will probably rise, leading to an increase in bond issuance.

7.   The deficit has risen as the number of Japanese-registered freight ships has fallen, a trend in all industrialized economies, Calderwood said.

8.   The U.S. trade deficit rose to a record level as aircraft and computer exports sagged and imports from Europe, including German luxury cars, surged.

9.   The transportation deficit also rose as Japanese were net buyers of air and sea transport services.

10.   Then deficits will rise, leading to higher interest rates, as the government competes with private businesses for capital.