Sunday, August 01, 2004


Deeper and Deeper

The Red Ink Grows: White House Projects $445B Deficit

Well, so much for campaigning on fiscal prudence. The party that attracts voters because it is fiscally responsible has presided over the largest explosion of debt in the history of our country. We've added $2 TRILLION dollars in debt over the last four years and are set to add nearly $2 Trillion more in the next four years.

Some say it's ok, because the United States is at war. Elephant says baloney! Huge tax cuts (good) combined with pork barrel spending (bad) are the cause. Upping agricultural subsidies, expanding Medicare and so on and so on. The GOP used to be able to point to Democrats and accuse them of reckless spending. They can't do that anymore.

How long must the Japanese, Chinese and others in the world support our growing debt before they invest their money elsewhere?

And, how much more will the Euro cost the Elephant on his next visit to Europe. Three years ago, one euro cost $0.84, today it costs $1.22.... (Good for exports, bad for vacations!)


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