For The Third Straight Year, Bush Sets Record For American Tax Increases

WASHINGTON , Jan. 25 - White House officials predicted this afternoon that the budget deficit would hit a record $427 billion this year, including an additional $80 billion that President Bush will ask for mostly to cover the costs of the war in Iraq.

White House officials said today that they were still on track to fulfill Mr. Bush's campaign promise of cutting the budget deficit in half by 2009.

Yes, that certainly is a big step forward to cutting the deficit: hitting a new record deficit.

Yepper, they’re right on track!

But the administration is already well behind on its goal. The White House predicted last summer that the budget deficit would decline in 2005 and continue to sink after that.

Jesus, even New York Times reporters could see that one! If it gets any more obvious, next thing you know, Republicans will start figuring it out!

The new estimate calls for the budget to climb slightly, and a new report earlier today by the nonpartisan Congressional Budget Office shows that deficits will remain above $350 billion through 2009 and climb sharply after that.

Good Christ. What a disaster. What a nightmare. Bush is bankrupting this country. $350 billion a year and then sharply climbing?

Who do these morons who think we got a tax cut think is going to pay that money back???

We are borrowing the equivalent of the entire Pentagon budget every year. We are borrowing that money with a promise to pay it back with interest.

Who do these jackasses think is going to pay that money back? How do these imbeciles think that money is going to be paid back? Here, I’ll give you a hint, and, if you’re not an idiot, and/or you didn’t vote for this totally irresponsible Disaster Monkey, don’t read the next paragraph:

American taxpayers are going to pay that money back. And they are going to pay it back by paying soul crushing taxes, you fucking morons.

Well, what the heck. All this debt isn’t Bush’s fault, is it? I mean, heck, he and his irresponsible Republican party just set the record for deficit spending—sure, sure, they did it while promising to cut the deficit in half, but let’s not get into honesty and integrity here—but someone else held the old record.

I bet it was that communist, pervert Bill Clinton, who held the old record!

Administration officials rolled out an $80 billion emergency spending request, mainly for Iraq and Afghanistan, conceding that the extra money would probably send the federal deficit above the record $412 billion recorded in fiscal 2004, which ended Sept. 30. Bush has pledged to cut the budget deficit in half by 2009, a promise the administration says it can keep. But at least for now, the government's fiscal health is worsening.

Oh, shit. So the new record for idiotic deficit spending actually broke Bush’s old record for idiotic deficit spending?

Wow. What an idiot.

But I bet the record before that was some kind of pinko tax and spend democrat! I bet it was Jimmy Carter! We all hate Jimmy Carter!

WASHINGTON , July 15, 2003 — The White House today projected a $455 billion budget deficit in the current fiscal year, by far the government's biggest deficit ever and $150 billion higher than what the administration predicted just five months ago.

Are you shitting me? The guy came into office with a budget surplus and he’s, nearly every year he’s been in office, rang up the biggest budget deficits in the history of the country???

He’s been borrowing money at a record pace? Money we will have to pay back? With interest???

Fuck.

Well, I bet there was some irresponsible liberal who, maybe didn’t spend as much money as Bush, but I bet there was some tax and spend idiot lefty who spent some pretty comparable amount of our hard earned tax dollars:

Last year's deficit was the largest ever in terms of dollars, although the deficits run under President Ronald Reagan in the 1980's were larger as a percentage of the economy. President Bush pledged during last year's campaign to cut the deficit, and aides have said that his new budget will include a number of spending cuts.

Well, I knew it was an idiot. I just got the “liberal” part wrong.

Well, what the heck? What’s the big deal about borrowing all this money? I mean, after all, being a Republican means never having to accept responsibility for your actions. Who cares how much we borrow?

The People's Bank of China has let it be known that China increased dollar reserves by $207bn (€159bn) in 2004, financing nearly a third of the US current account deficit, estimated at $650bn…

In November, Alan Greenspan, US Federal Reserve chairman, suggested foreign investors would reach a limit in their desire to finance the US current account deficit and diversify into other currencies or demand higher US interest rates, "elevating the cost of financing" the deficit and "rendering it increasingly less tenable"…

Asian central banks are unlikely to pull the plug on dollar assets altogether. But they may be close to ending their willingness to provide cheap financing for an ever increasing US current account deficit.

That’s right. The Chinese own our debt. And do you know why the Chinese are loaning us all this money? So we can spend it on our record setting trade deficits buying Chinese goods. Yes, they are loaning us the money to finance their industrial revolution. And then, when the American economy is so worrisome, and their own economy is booming, well, they’ll still loan us some money.

But not so cheap.

The upside of Bush’s incredibly irresponsible governing is, when the disaster occurs, it will be the end of the Republican party for decades, much like Hoover twiddling his thumbs in 1928. The downside will be that the result will be much, much worse than Hoover.

I mean, you know, when the utter emptiness of the modern Republican party becomes obvious to even the New York Times, to even Republicans, you won’t feel like gloating.

Because you’ll be stuck with dollar bills like 1930 Deutsch marks, a suffocating national debt, mind numbing taxes, and a country with it’s future and it’s promise pissed away.

Comments

[Erwin]

Ricky! okay to clarify a few things first. The election stuff will take place off base, something is going on here, don't know what. so have no fear about that.

the next thing. I shared this post with some Marine friends of mine (yes they spell much better than I do) I gave you credit of course and posted a link to your blog, so maybe you will have a bunch of pissed off military guys posting to your site, not pissed at you, pissed at what is, and isn't in this country. i have been thinking maybe I should get into polotics. I am smart enough to see the validity of certain points on both sides of the spectrum, and I can make all those words word together to form a coherent thouhgt... now I just need to get rich and in a position of power and let the kick backs roll in... yeah. anyways, keep fighting the good fight and me and my homies are home in less than a month!!! i hope to Apocolypse is still a few years off, and the gay bomb... yeah.

[Scott]

You misunderestimated Chimpy. See, there was first the "new English" where mindless incompetents are said to have "integrity". Now you are learning the "new Math" where they say "cut the deficit in half" to describe what someone in the reality-based world would call "cutting the value of the dollar in half".

Perhaps the twit is planning on racking up massive debt with China, then starting nuclear war with them. No more China = No more debt. Wow, he might be onto something after all (besides bourbon and cocaine, that is). Since global warming is just a story made up by the "liberal" media to scare everyone, all that hooey about nuclear fallout being dangerous and stuff, thats probably a lie too. Besides, there is no commandment saying "thou shalt not blow thine enemy to tiny bits" so it must be okay to do that.

[Elkit]

Guys, guys, guys! WHAT is the matter with you? Fear not! Everything will be just fine: Bushie is just going to cut the deficit from the federal budget. Here's the good news:

Faced with the difficult choice of either cutting government programs or raising taxes, Bush reportedly arrived at the radical new "deficit-cutting" solution late Sunday night, only hours before he was to announce his budget.

"I was staring at the figure for the deficit, and I decided that it simply could not stand," Bush said. "It was too high. Something had to be done. But Americans have been taxed and taxed. I say 'Enough taxes.' By my estimation, this historical crossing-out of the deficit will save American taxpayers millions, billions, and perhaps even bajillions of dollars."

The president then turned to Section 14-D of the official budget document, where the federal government's total expenditures, the GNP, and the difference between the two were listed. Using a black Sharpie, the president crossed out the third figure, eliminating it entirely.

Bush then held up the newly marked-up page and said, "My fellow Americans, I have solved the federal budget crisis."

The budget is expected to pass through the GOP-controlled Congress with little or no opposition.

This was duly reported by America's Finest News Source recently. Since it has rolled into the archives and is only accessible to upstanding citizens and premium members such as myself, I have taken the liberty of making a pdf of this fine article available to you excitable boys.

Aren't you glad? :-]