Current Events — HabitableZone

Current Events » in reply to The results, and some comments

you must be kidding
Greg — (archived)

So now all deficits are good because they put more money in the private sector? Not if they bankrupt the country having to pay them off. Also in the thread below one part does indeed become a surplus, but Bush is not intending to go down that road. His plan is the bottom one where the deficit goes out of control, even though he said his plan would cut the deficit in half.

So there seems to be no data backing up Bush's statement the deficit will be cut in half. Like there wasn't any real data about WMD's. It's called making stuff up. The deficit he has made is out of control and would create an Argentina like crisis, and he has no plans to do anything about it except lie to the base. Taxes have to be raised, prides have to be swallowed, supply side policies discarded.

Here's what one of Bush's own economists had to say:

Faced with numbers as ghastly as these, look for some policymakers to trot out a favorite solution to any crisis: Simply deny that the crisis exists. It's tempting to dismiss the CBO's projections out of hand--economic forecasts are, after all, far from certain, and projecting out half a century may seem less like science than science fiction. Especially skeptical will be the prophets of the "new economy," who look at advances in information technology and think a productivity revolution is just around the corner.

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