The 10 Trillion Dollar Man-child

10 Trillion Dollars, come on Bush, you can do it! Break that $10 Trillion barrier!

It's the tax cuts, Stupid!

Now, Bush will tell you that the tax cuts will stimulate the economy, and he very well might have some justification to make such an argument. The problem is that any gains are more than offset by the loss in revenue. So, we have to raise our debt ceiling again, and things get worse and worse.

Mimikatz at The Next Hurrah sums up our pain:

In the four and a half years of the Bush Presidency, he and the Republican Congress have added $2.463 trillion to the debt, bringing it to almost $8,270,900,000, 000, an increase of 40% in less than five years. The current debt ceiling is $8.184 trillion. There is talk of raising it to $9.65 trillion, even though President Bush promised to halve the budget deficit (the yearly contribution to the cumulative debt) by one half by the time he leaves office.

My guess is they'll try to tout a figure like: (annual deficit / total debt) has DECREASED under Bush.

Which is like arguing that each year I live is shorter than the year before, because I'm older.

Without Bush's tax cuts, 2005 would have been a surplus year. Yikes.

SOOoo glad this wasn't an issue in the '04 election. Deficits are so complicated and all. Too bad the topic is arguably a national security issue, a health care issue, a retirement issue and a love-thy-children issue all balled up into a neat little package. Bush hasn't vetoed a bill and has both houses of congress, and the $4 Trillion plus he seems hell bent on adding to our debt in order to keep tax cuts for his precious, wealthy "base" needs to be slung around the neck of every Republican candidate from now until November.


(Mimikatz link courtesy of kos)

mcolley
I'm not liberal, I'm just paying attention