Thursday, March 06, 2003

 

I recall, days after a bare majority of the Supreme Court committed an impeachable offense (and the source of all our present woe), having an email exchange with a Republican friend wherein I used the phrase "oceans of red ink" to describe what was to come . . .

P.L.A. does a fantastic job of "nailing" it:

Budget Deficit Balloons

The Bush administration has projected the budget deficit for this fiscal year to be slightly more than $304 billion. The fiscal year started last October and runs through next September. The New York Times reports, that even that dismal projection is no longer operative:

The federal deficit is growing much more quickly than expected, even before Congress takes up President Bush's tax-cutting proposals and without factoring in the costs of a war in Iraq, Congressional analysts have concluded.

Analysts for the Republican-controlled House Budget Committee have raised their estimates of this year's budget shortfall by about $30 billion, some 15 percent beyond the forecast that the nonpartisan Congressional Budget Office issued only five weeks ago.
Those estimates do not include any cost of the looming war in Iraq or any occupation of Iraq.

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It is a good thing this is the Responsibility Era. There is going to be a lot of responsibility to accept.

posted by Michael 9:57 PM