The Congressional Budget Office released their projections for this year’s budget, which includes the largest deficit of all time, a $422 billion dollar shortfall. And just how bad is that? “When adjusted to erase the effects of inflation, the projected $422 billion deficit projected for 2004 would exceed the value of every annual shortfall since World War II.” It’s that bad.
While there was a
pre-emptive, quagmire of a war going on, it still comes as a surprise when the president is supposed to be a fiscal conservative. Sure, he’s given tax-cuts for the rich all, but he’s been spending money faster than Kennedy these past few years. I never understood how Reagan got away with the same thing, claiming on one hand to be miserly with money while at the same time funding zillions into weapons programs we never used.
But republican leadership is going to bat for this dire economic forecast:
“Deficits are going down, jobs are going up, the economy continues to improve,” said Sean Spicer, Republican spokesman for the House Budget panel. “I don’t see how you can’t be happy with that news.”
How you can’t be happy with the news? It must be great to be one of the truly devoted.