culture, politics, commentary, criticism

Tuesday, February 04, 2003
Mortgaging your children's wages. An excellent overview of the dangerous Bush budget deficits appears this week in
The Economist. After noting that the federal deficits for the next eight years are projected to total over $2 trillion (not million, not billion, but $2 trrrrrrrrrillion), they add the following bit of irony:
Over a ten-year period, the latest tax cuts are estimated to cost nearly $1.5 trillion, and they come on top of tax cuts passed in the first months of Mr Bush’s presidency which will cost $1.35 trillion over a decade.
The long run of forecast deficits reminds some of the Reagan administration in the 1980s, which lumbered successive governments with deficits that took years—and enormous political effort—to reverse.
George W. Bush's one-year budget deficit of $307 billion for 2003 — the highest in history — will break the previous record set by his father (AP via SFGate.com) before the cost of the Iraq invasion is factored in:
President Bush will project a record $307 billion federal deficit for this year in the budget he sends Congress on Monday, followed by another huge shortfall of $304 billion in 2004, congressional and administration officials said Friday.

[...]

The figures, disclosed by officials speaking on condition of anonymity, include the costs of Bush initiatives like tax cuts for stimulating the economy and extra spending for the military and domestic security. They exclude the price tag of a possible war with Iraq, estimated to be at least tens of billions of dollars.

The biggest shortfall ever was $290 billion in 1992, when Bush's father was president.
The Republican Party is double-crossing the American people with their preposterous self-serving charades. The lone president who managed to balance the budget and deliver a surplus in the last few decades was the same one they tried to impeach.

They are not interested in the financial health of this nation. They are not responsible human beings.

To further enrich the rich and to subsidize the energy and defense industries, they are borrowing against your children's wages — because their children will be living on tax-free dividends and inheritances.
.



Greatest Hits · Alternatives to First Command Financial Planning · First Command, last resort, Part 3 · Part 2 · Part 1 · Stealing $50K from a widow: Wells Real Estate · Leo Wells, REITs and divine wealth · Sex-crazed Red State teenagers · What I hate: a manifesto · Spawn of Darleen Druyun · All-American high school sex party · Why is Ken Lay smiling? · Poppy's Enron birthday party · The Saudi money laundry and the president's uncle · The sentence of Enron's John Forney · The holiness of Neil Bush's marriage · The Silence of Cheney: a poem · South Park Christians · Capitalist against Bush: Warren Buffett · Fastow childen vs. Enron children · Give your prescription money to your old boss · Neil Bush, hard-working matchmaker · Republicans against fetuses and pregnant women · Emboldened Ken Lay · Faith-based jails · Please die for me so I can skip your funeral · A brief illustrated history of the Republican Party · Nancy Victory · Soldiers become accountants · Beware the Merrill Lynch mob · Darleen Druyun's $5.7 billion surprise · First responder funding · Hoovering the country · First Command fifty percent load · Ken Lay and the Atkins diet · Halliburton WMD · Leave no CEO behind · August in Crawford · Elaine Pagels · Profitable slave labor at Halliburton · Tom Hanks + Mujahideen · Sharon & Neilsie Bush · One weekend a month, or eternity · Is the US pumping Iraqi oil to Kuwait? · Cheney's war · Seth Glickenhaus: Capitalist against Bush · Martha's blow job · Mark Belnick: Tyco Catholic nut · Cheney's deferred Halliburton compensation · Jeb sucks sugar cane · Poindexter & LifeLog · American Family Association panic · Riley Bechtel and the crony economy · The Book of Sharon (Bush) · The Art of Enron · Plunder convention · Waiting in Kuwait: Jay Garner · What's an Army private worth? · Barbara Bodine, Queen of Baghdad · Sneaky bastards at Halliburton · Golf course and barbecue military strategy · Enron at large · Recent astroturf · Cracker Chic 2 · No business like war business · Big Brother · Martha Stewart vs. Thomas White · Roger Kimball, disappointed Republican poetry fan · Cheney, Lay, Afghanistan · Terry Lynn Barton, crimes of burning · Feasting at the Cheney trough · Who would Jesus indict? · Return of the Carlyle Group · Duct tape is for little people · GOP and bad medicine · Sears Tower vs Mt Rushmore · Scared Christians · Crooked playing field · John O'Neill: The man who knew · Back to the top






. . .