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Born at the Crest of the Empire

Friday, December 30, 2005

Lying again, this time on the budget.

Again? This is bad enough, but take a look at the short term history below the article.

Snow warned that even if the Treasury took "all available prudent and legal actions" to avoid breaching the ceiling, "we anticipate that we can finance government operations no longer than mid-March".

"Accordingly, I am writing to request that Congress raise the statutory debt limit as soon as possible."

The Republican-led Congress last voted to increase the debt limit in mid-November 2004, despite opposition from Democrats who demanded the free-spending federal government tighten its belt instead.

I was curious, so I looked back, and that previous debt increase, that was just thirteen months ago, was for a raise in the allowable debt by 800 Billion Dollars. They added $800 Billion in debt in just over a year!!!!!!

So, thinking that this $800 billion doesn't really gibe with the what I think I've heard from the Bushies, I went to the whitehouse site and found this from July 13, 2005.

Today, The Office Of Management And Budget Reported The FY2005 Budget Deficit Is Projected to Be $94 Billion Less Than Forecast Last February. At $333 billion, or 2.7 percent of GDP, it would be smaller than the deficits in 15 of the last 25 years as a percentage of GDP.

I do not present myself as a budget expert. I recognize that there my be items, like social security for instance, that may reflect the differences in these numbers. I just don't know enough to say. But damn, I can look at the addition of $800 Billion in debt in a little more than a year and recognize that something is horribly wrong.

Here goes the math compulsion again: 800 Billon into 300 million americans = $2,667 in additional debt added per person in a little more than a year. And that doesn't even count taxes you paid.

They are destroying my country more surely than if they were trying to do so. How much interest do you think will accrue on that $800 billion? What effect will that have on my interest rates? The value of the dollar? The future of my nieces and nephew?

The empire is bankrupt, both morally and financially. It is past its crest. Rational management would attempt to position the US for its future world role, to soften the inevitable landing.

This is how Russia died.

3 Comments:

  • So is Justice going to investigate 'who leaked' the real budget facts? Surely this information only helps al-Qaeda's efforts to destroy society as we know it.

    By Blogger Cartledge, at 3:01 PM  

  • 800 Billion Dollars? I guess Iraq will never see that $9 bill the US stole then...

    By Blogger Cartledge, at 3:14 PM  

  • I think repayment is no longer an option. We would have to balance the budget then find another 250 billion to 500 billion on top of that for 15-30 years.

    Sadly, the only real hope at this point is to inflate the debt away, but that has other uglier implications.

    But, as the old saying goes, when you find yourself in a hole, first you have to stop digging.

    Mike

    By Blogger mikevotes, at 5:57 PM  

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