Deficit Thinking

Please, don’t anybody ever refer to Republicans as the party of fiscal responsibility again. A $450 billion deficit? And that doesn’t include the costs of Bush’s excursion into Iraq. They say it will be cut in half in a few years. And even that figure would have been a near-record deficit before the one just announced. Democrats may be the part of “tax and spend” – but Repubicans are the party of “spend and spend”. At least Democrats are honest enough to admit that you have to have government revenue to pay for all the programs. Look at recent history – the Reagan administration gave us deficits that exceeded the cumulative deficits of all previous Presidents.

The first Bush administration added to that. Eight years of Clinton’s policies produced a surplus that would have made a real dent in the national debt. But GW Bush destroyed that surplus in two short years, and now has the nation diving into incredible amounts of red ink. And no doubt we’ll soon be seeing some of the Reagan administration’s favorite ploys to make the deficit appear smaller – selling Amtrak, selling national parks, and “eliminating government waste” – they love to let people think that waste accounts for hundred of billions of dollars each year. And meanwhile, they’ll keep passing out voter candy, and people never seem to associate tax cuts with the ballooning deficit and all the hidden and long-term costs those bring.

July 16, 2003 В· Harry В· One Comment
Posted in: Politics

One Response

  1. G Germany - September 20, 2003

    Yep, the Republicans have found a safe haven in an unsable stock market (they created). It’s called Tresury Bills. Perfectly safe and only for sale when the government has debt.
    When “Dubya” was touring Yellowstone, my thought was he just saw Yellowstone as future 2″ X 4″s.
    Don’y you just love the Dubya method of firefighting? Just cut down all those pseky trees and sell them to the Japanese. Problem solved!