President Bush is sending Congress a $3 trillion spending blueprint that would provide a big boost to defense and protect his signature tax cuts.
His blueprint for the budget year that begins next October projects huge deficits, around $400 billion for this year and next, more than double the 2007 deficit of $163 billion. Private economists believe the deficit could easily surpass the previous record in dollar terms of $413 billion set in 2004, especially if the country does go into a recession.
Democrats said the big jump in deficits for this year and 2009 continued an era under Bush in which the national debt has exploded. A projected 10-year surplus of $5.6 trillion when Bush took office was wiped out by the 2001 recession, the increased spending to fight terrorism and, Democrats contend, Bush's costly tax cuts.
"Democrats contend" this...? No, more like anyone without their thumb in their mouth and a first class ticket booked on the good ship Lollipop contends this.
Let me extemporize a bit, here. Apparently, some people still think that there is such a thing as permanent unchecked growth - that an economy can just keep getting bigger and bigger with no restrictions, spiraling ever upwards toward a promised Valhalla of entitled profit.
Oh, what a desirable state, my brothers and sisters - rivers of milk and honey a-flowin', the cotton candy trees a-blowin' in the balmy breeze, and all of us lolling on comfy poolside lounges whilst our personal cabana cuties peel us a grape and pop it into our waiting mouths...forever.
Now of course, empirical thought renders this nonsensical, as the only thing that grows unchecked if you let it is cancer.
There is always going to be a recessive factor within a nation's economy, as simple and ineffable as the tides going in and out, and the change of the seasons.
'What comes up must come down' is a rule of balance that applies to damn near everything touched or made by the hand of humanity, but if one acknowledges and prepares for this eventuality whether in business or in domestic applications of economics, the downturn can be weathered until the next upward curve appears.
However, to 'prove' the validity of this moronic conceptualization of permanent economic growth a lot of valid 'conservative' (if by conservative one means common f*cking sense) principles such as fiscal prudence and balanced spending objectives need to be thrown out the window in order to make that turkey fly.
Trifles like financing one's country on increasing debt to foreign entities, the sort of thing that would make a Goldwater-era Republican set their own hair on fire, have moved from an occasional dalliance offset by internal revenue to a dangerous addiction that will only magnify the oncoming depression, along with sacrificing the necessary foldback of revenue into the maintenance of national infrastructure so that some Wall Street fop can have a permanent tax holiday from their responsibilities to the state that nurtures them.
One can't just tear up the markers and yell 'finnsies' to China, or any other international trading partner.
They don't owe America an allegiance other than to provide goods and services for financial recompense...so, when the well runs dry, there won't be a water truck driven by smiling foreigners coming down the old country road to help out unless the cash is on hand.
I am not an advocate of violence as a solution to minor disputes, but I would opine that any Republican or fellow traveller who dares suggest in the midst of the recession-cum-depression that is sure to come (one that will only be magnified by the grossly imprudent fiscal policies pursued on behalf of the Bush crime syndicate's base) that Democrats and progressives are the culprits for the economical woes that we all will suffer globally be slapped across their stupid face hard enough to rattle their chattering teeth.
This economy is a Bush construct, just like all of his administration's other reality-denying products.
A failed set of intellects formulating failed economic and social policies...Who would have thought?