Sunday, September 18, 2005

Deficit to reach $873 billion by 2015

Never thought I'd link the Heritage Foundation, but for once, some useful news is coming out of there (though of course we differ on the solutions): they're projecting that the budget deficit will reach $873 billion by 2015 thanks to Bush's runaway spending on Iraq and Katrina. Please note: I am not opposed to spending whatever we need to spend on cleaning up Katrina IF the money is spent wisely. My problem lies with the other spending frivolities that Bush has been carrying out since 2001, most notably the tax cuts for the wealthy, those sweet no-bid contracts for Halliburton and Bechtel, agricultural subsidies for tobacco farmers, and the ridiculous pork in the energy and transportation bills.

Instead, Conservatives (and the Heritage Foundation) will see this as carte blanche to roll back the programs that help the needy, programs that have already been slashed to the bone (with the exception of Medicare).

Or, they might just bury their heads in the sand: "House Majority Leader Tom DeLay said that Republicans have done so well in cutting spending that he declared an 'ongoing victory,' and said there is simply no fat left to cut in the federal budget. "

I know, I know. I'm laughing as hard as you are. And you know, there's a little tinfoil man in the back of my head that thinks this has been the plan all along.

Bear with me. Under normal circumstances, you'll never get enough political support to cut the "entitlement" programs. Now you're wealthy and borderline nutbar with nothing to lose and have a fundamental desire to see the government spend all of its money on the military and nothing else. You and your political friends get together and spend, spend, spend like drunken sailors at a Saigon whorehouse until someone, somewhere down the line, has no other choice but to cut all those nasty social programs that prevent people from pulling themselves up by their bootstraps.

Crazy? I don't know. What is the endgame on this? There has to be a limit on what we can borrow. How long can the charade keep going? I'll keep watching...

Posted by crimnos @ 10:58 AM

Read or Post a Comment

I think it essentially goes on till the Chinese decide to stop buying our bonds. The international community is already catching on to the idea that we are no more powerful than the rest of them. It's only a matter of time. My recommendation is moving out of the country as soon as possible...

We are going to endure a major recession/depression.

Posted by Blogger Jessica @ 11:30 AM #
 

I know, and people can't seem to see it. Just yesterday I heard someone say that "a depression isn't possible in this day and age". It almost felt like tempting fate. I worry that it's exactly that kind of hubris that will come back and haunt us in the end.

And, of course, if there is a recession or depression, it will mostly affect the middle and lower classes, and who cares about those losers, right?

At the very least, I think they are setting up for the death of the middle class. If that happens, it will be interesting to see how long the Republic lasts.

Posted by Blogger crimnos @ 11:58 AM #
 

Great post Crim!!

I like your tin-foil hat theory. The Conspiracy theorist in my is standing up and applauding.

I too am all for spending whatever it takes in the wake of Katrina but he is totally nuts to say he's not going to raise taxes but rather CUT PROGRAMS!!! I'm sure we will dip into social security (the social security he vowed to "fix.")yet again.

Funny how people always thought America could never be taken over by another country and most people probably never saw it coming by a lack of funds to China.

Posted by Blogger james @ 4:02 PM #
 

Thanks!

I know, the whole situation is so sad. I'm rather curious about what China might possibly want from us, and dismayed by the power that they seem to increasingly hold over us. I also am quite sure Social Security will be hit again - after all, this seems like the best excuse to hit social security and the poor as well as those dependent on SS. Drain those funds, and you have the excuse you need to wipe out the system. Hopefully I'm wrong, but I wonder sometimes...

Posted by Blogger crimnos @ 4:07 PM #
 

I don't think you are wrong. These programs I assume Bush will want to strangle some more are those already taking major hits in the '06 budget without hurricane relief. It's getting scary.

I am absolutely APPALLED tht he wont' raise taxes. Never in a time of war have we had tax cuts, let alone in a time when we are occupying two countries and have endured the largest natural disaster in our countries history. It is unheard of, and recklessly irresponsible. But then, what more should we expect from a man whos every business venture failed and was bailed out by his dad. George W. Bush has NEVER had to be responsible for himself personally, why should we expect that he will be responsible with this country.

It sickens me that the majority of American's are accepting as a ten cent hooker.

Posted by Blogger Jessica @ 4:50 PM #
 
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