So, how do you go from a 86.4 billion dollar surplus in fiscal year 2000 to a record setting deficit in fiscal year 2008? Well, first you elect George "Frat Boy" Bush as President. Next, you give him a GOP Congress that can't say no. You follow that up with reckless tax cuts for the wealthy and you add a needless war with Iraq. Viola! You go from the Federal Government being in the black under Bill Clinton to bleeding red ink under "Frat Boy". See, it really was pretty simple. All you needed was a bunch of Republicans running, or should we say, ruining, our country.
Showing posts with label Federal debt. Show all posts
Showing posts with label Federal debt. Show all posts
Thursday, July 31, 2008
The Bush Record: Surplus to Record Making Deficit
So, how do you go from a 86.4 billion dollar surplus in fiscal year 2000 to a record setting deficit in fiscal year 2008? Well, first you elect George "Frat Boy" Bush as President. Next, you give him a GOP Congress that can't say no. You follow that up with reckless tax cuts for the wealthy and you add a needless war with Iraq. Viola! You go from the Federal Government being in the black under Bill Clinton to bleeding red ink under "Frat Boy". See, it really was pretty simple. All you needed was a bunch of Republicans running, or should we say, ruining, our country.
Thursday, January 24, 2008
Iraq War Cost Keeps Going Up and Up
There is a new report out by the Congressional Budget Office that shows that the cost of the Iraq War rose sharply in 2007. This is from the Reuters article:
War funding, which averaged about $93 billion a year from 2003 through 2005, rose to $120 billion in 2006 and $171 billion in 2007 and President George W. Bush has asked for $193 billion in 2008, the nonpartisan office wrote.
The cost of this war is not being borne by Americans in the form of tax increases or cutbacks in government spending. Bush and his Republican allies in Congress have ruled out tax increases. It is being financed by borrowing and passing the cost on to future generations of taxpayers. When George W. Bush took office, the country was running a surplus, now it is running a deficit projected this year to reach 250 billion dollars.
Meanswhile the Federal Debt has gone from around four trillion dollars to over 9 trillion dollars. A lot of this is owned by foreign entities which are controlled by foreign governments, like the Chinese.
None of this seems to worry "Bubble-Boy" and his Republican allies since they think that they won't pay any political price for supporting these idiotic policies. Let's try to disabuse them of this notion in November.
War funding, which averaged about $93 billion a year from 2003 through 2005, rose to $120 billion in 2006 and $171 billion in 2007 and President George W. Bush has asked for $193 billion in 2008, the nonpartisan office wrote.
The cost of this war is not being borne by Americans in the form of tax increases or cutbacks in government spending. Bush and his Republican allies in Congress have ruled out tax increases. It is being financed by borrowing and passing the cost on to future generations of taxpayers. When George W. Bush took office, the country was running a surplus, now it is running a deficit projected this year to reach 250 billion dollars.
Meanswhile the Federal Debt has gone from around four trillion dollars to over 9 trillion dollars. A lot of this is owned by foreign entities which are controlled by foreign governments, like the Chinese.
None of this seems to worry "Bubble-Boy" and his Republican allies since they think that they won't pay any political price for supporting these idiotic policies. Let's try to disabuse them of this notion in November.
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