In other words: A discussion of The Bush Administration
The CEO Presidency.
But we didn't get some Ford or even a Gates, we got a Ken Lay type CEO. We got the CEO that was given the job because his buddies on the board want to thank him for that nice golfing trip:
The numbers tell the tale. In its first budget, released in April 2001, the administration projected a budget surplus of $334 billion for this year. More tellingly, in its second budget, released in February 2002 — that is, after the administration knew about the recession and Sept. 11 — it projected a deficit of only $80 billion this year, and an almost balanced budget next year. Just six months ago, it was projecting deficits of about $300 billion this year and next.
The new numbers are $455 billion this year and $475 billion next year. If anyone below managment level made estimates that poorly they'd be out of a job.
More from Krugman's Passing It Along
Some point out that Ronald Reagan ran even bigger deficits as a share of G.D.P. But they hope people won't remember that in the face of those deficits, Mr. Reagan raised taxes, reversing part of his initial tax cut.
Furthermore, this time huge deficits have emerged just a few years before the baby boomers start retiring and placing huge demands on Social Security and Medicare. The Social Security system is running a surplus right now, in preparation for future demands; the rest of the federal government is paying one-third of its expenses with borrowed money. That's a record.
But haven't administration officials said they'll cut the deficit in half by 2008? Yeah, right. I could explain in detail why that claim is nonsense, but in any case, why bother with what these people say? Remember, just 18 months ago they said they'd more or less balance the budget by 2004. Unpoliticized projections show a budget deficit of at least $300 billion a year as far as the eye can see.
But by the time everyone realizes how bad the situation is, Bush will be working at the Carlyle Group stocking their bar for $1,750,000 a year (plus bonus).
- rob 2:21 PM - [PermaLink] -
----
TCS Now offers a News Reader Feed
Subscribe to the TCS Feed
Having trouble with some of the poor English
on this site?
Imagine what it looks like when translated by a machine:
This is a "team" blog. We are a bunch of
Americans, whose rising distress
in our leader's decisions brought us together to make this site.
As Bush said, he's a "uniter." Many of us have never even met.
That's the internet for you.
Buy our cool stuff.
And tell everyone what you feel.
We have a little Store
you can visit.
Our store's selection of items is constantly growing. Come
see what we have.
We're also Amazon Associates, so if you want to buy something from Amazon, please search for it below, and we will get a few bucks from the sale.
Static Sky
Tin Foil Caps
The Free Speech Zone
The office of the independent blogger
Buzzflash
Tom The Dancing Bug
VerifiedVoting.org
Get Your War
On
This Modern World
Eschaton / Atrios
Daily Kos
meowpurrmeow
Contribute to America's Future
It is now more important then ever.
Donate to the Democractic Congressional Campaign Committee
Donate to the Democratic Senatorial Campaign Committee
Some More Site Mottos
"To announce that there must be no criticism of the
president, or that we are to stand by the president, right or wrong, is
not only unpatriotic and servile, but is morally treasonable to the
American people."
- Teddy Roosevelt
"Government has a final responsibility for the well-being of
its citizenship. If private cooperative endeavor fails to provide work
for willing hands and relief for the unfortunate, those suffering
hardship from no fault of their own have a right to call upon the
Government for aid; and a government worthy of its name must make
fitting response."
- Franklin Delano Roosevelt
"I am not an advocate for frequent changes in laws and Constitutions, but laws must and institutions must go hand in hand with the progress of the human mind. As that becomes more developed, more enlightened, as new discoveries are made, new truths discovered and manners and opinions change, with the change of circumstances, institutions must advance also to keep pace with the times. We might as well require a man to wear still the coat which fitted him when a boy as civilized society to remain ever under the regimen of their barbarous ancestors."
- Thomas Jefferson
"The means of defense against foreign danger historically have become the instruments of tyranny at home."
"All men having power ought to be distrusted to a certain
degree."
- James Madison
"I believe in human dignity as the source of national purpose, in human liberty as the source of national action, in the human heart as the source of national compassion, and in the human mind as the source of our invention and our ideas. It is, I believe, the faith in our fellow citizens as individuals and as people that lies at the heart of the liberal faith. For liberalism is not so much a party creed or set of fixed platform promises as it is an attitude of mind and heart, a faith in man's ability through the experiences of his reason and judgment to increase for himself and his fellow men the amount of justice and freedom and brotherhood which all human life deserves."
- John F. Kennedy
"Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history. There is a tiny splinter group, of course, that believes you can do these things. Among them are [a] few other Texas oil millionaires, and an occasional politician or business man from other areas. Their number is negligible and they are stupid."
- Dwight D. Eisenhower
more coming...
