White House projects record deficit for 2009

[Michael Aldrich]

http://www.cnn.com/2008/POLITICS/07/28/2009.deficit/index.html

President Bush's budget chief blamed the faltering economy and the bipartisan stimulus package for the record $482 billion deficit the White House predicted for the 2009 budget year.

Never mind Bush’s asinine tax policies, his asinine spending policies, and his asinine trade policies. Yeah. It’s not Bush’s fault at all.

1.   If you’re going to cut taxes, you sure as hell better cut spending, too.
2.   If you’re going to war, pay for it by raising taxes, not by borrowing from China.
3.   If you’re going to engage in trade, make sure it benefits the American worker first.

Call me crazy.

[spunkloaf]

I guess we can't blame Bush for everything, but he certainly didn't help any.

[Peter1469]

Cutting taxes do not result in less tax revenues (unless you cut a lot).  Cutting taxes will allow the economy to expand.  More people paying fewer taxes can bring in more money than less people paying more taxes.

The big problem is, as always, uncontrolled spending. 

The government should have sold bonds to help pay for the war.  The government should also have considered seizing Iraq’s oil fields to pay for the war.  The administration has been blamed for it- why not get the benefit from it? 

On China: we have them by the short-hairs.  The US economy is ~13.4 trillion dollars.  If China tries to dump USD they will be hurt far more than we would be.  Who would want that many USDs anyway?   

[gunit_sangh]

I guess we can't blame Bush for everything, but he certainly didn't help any.

YES WE CAN

[they call me MR. GRUMPY god damn it!]

does this budget projection include the 300 billion bailout or the second stimulus package being courted by bo and many others within that august frat party that is congress?

[spunkloaf]

does this budget projection include the 300 billion bailout or the second stimulus package being courted by bo and many others within that august frat party that is congress?

You are undermining our government's institutions.  Un-patriot!

[they call me MR. GRUMPY god damn it!]

speaking of institutions, aren't you going to be late for your medication handout