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 Bush Plan Would Raise Deficit by $1.2 TrillionPosted on Mar 4, 2006N.Y. Times: WASHINGTON, March 3—President Bush’s budget would increase the federal deficit by $35 billion this year and by more than $1.2 trillion over the next decade, the Congressional Budget Office reported on Friday. The nonpartisan budget office said that Mr. Bush’s tax-cutting proposals would cost about $1.7 trillion over the next 10 years and that his proposals to partly privatize Social Security would cost about $312 billion during that period. Truthdig says: But this total does not include money for some relatively small costs—like the wars in Iraq and Afghanistan after this year. Advertisement Previous item: Bush Plan Would Raise Deficit by $1.2 Trillion Next item: Bush Plan Would Raise Deficit by $1.2 Trillion Elsewhere: . CommentsAre you a Truthdig member yet? Login now, or register with Truthdig. Add Your Comment
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By R. A. Earl, March 5, 2006 at 3:22 pm #
(Unregistered commenter)
Lemme see. The US is trillions in debt. So the US must be borrowing from someone. From whom?
Many, if not most other countries are also heavily in debt. From whom are they borrowing?
Why would anyone or any country loan money when there’s absolutely no likelihood of repayment in the foreseeable future?
So there’s the IMF and World Bank. Hmmm. And where do they get their money?
This whole scenario looks very much like VISA being used to pay MASTERCARD.
I don’t pretend to understand “macro” economics. I can’t relate. All I know is that unless I pony up, preferably in gold bullion, collateral about equal to the amount I want to borrow from a bank, I go home empty-handed!
I’m getting a helmet. The economic sky should be falling any day now.
Report thisBy ann, March 4, 2006 at 3:04 pm #
(Unregistered commenter)
When is $8.18 Trillion not enough debt? When Republicans are in charge.
There is nothing socially conservative about a free market economy. There is nothing fiscally conservative about Republicans. They will spend any amount of another persons money they can get their hands on to further their religious agenda.
It is quite obvious the American people are fed up with the lies and manipulation, the only question remains, when will the democrats demand the votes be counted?
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