Re: Bush administration projects record 2009 deficit
Sort of coincidental really. A thread started earlier had a link singing the praises of the voodoo theory of supply-side economics. Any honest person who pays attention to public policy knows that since supply-side was adopted by the conservative movement this country has been heaped w/ $10 trillion in debt (was about $1 trillion prior to supply-side). Yet, there's still a large, and somehow growing cohort of Americans, who promote tax cuts for the rich, very rich and unfathomably rich. Then when a report of even bigger deficits is released most people scratch their head and point to programs like Social Security and Medicare, which are separate from the regular budget and funded by the middle class for the middle class (at different stages of life albeit).
Doesn't make a lot of sense. But it does say something about where we're headed.
In other news our lousy neighbors to the north are set to be completely debt-free by I believe 2014. Debt reduction was written in to Canada's federal law last year. Bastards!
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