An Online Magazine
"...The central fiction in the budget is that it constitutes the first step in halving the record $521 billion deficit over the next five years. Mr. Bush accomplished that feat on paper, in part by pretending that there would be no additional costs for the military in Iraq and Afghanistan this year — a supplemental request for an additional $50 billion or so will presumably arrive safely after Election Day."
"...Even as the Republican leadership strong-armed the Medicare drug bill through Congress, the administration was sitting on estimates showing that the plan would cost at least $134 billion more than it let on."He also points out that, contrary to "conventional" wisdom, the magnitude of the deficits is more due to the Bush tax cuts than anything else:
"...Over the past few months, many pundits have obediently placed the onus for rising deficits on "a vast increase in discretionary domestic spending," ...(however) The prime cause of giant budget deficits is a plunge in the federal government's tax take, which fell from 20.9 percent of G.D.P. in fiscal 2000 to a projected 15.7 percent this year, the lowest share since 1950. About 45 percent of this plunge can be attributed to the Bush tax cuts."I know I've said it before, but What Planet Are These Guys Living On?
“There’s a lot of money to pay for this that doesn’t have to be U.S. taxpayer money, and it starts with the assets of the Iraqi people…and on a rough recollection, the oil revenues of that country could bring between $50 and $100 billion over the course of the next two or three years…We’re dealing with a country that can really finance its own reconstruction, and relatively soon.” -Paul Wolfowitz
Oh My Goodness!
Father Knows Best
43% Solution (National Guard)
Busting a Freeper
A Comment Brought To You By Mrs. 9Driver
Crooks and Liars
Back To Iraq
Digby (Great Writer!)
The General JC Christian