Thursday, November 18, 2004

 

No Shortage of Red Ink

An $800 Billion Credit Limit Increase

I don't know which is more horrifying, that Congress has increased the debt limit by $800 billion dollars or that this new increase will only tide over these spendthrifts for about 18 months before the limit has to be increased again. Or maybe it's the fact that the only people complaining about the deficit are Democrats.

Yes, 9/11 and the mild recession add to the deficit (Iraq is often mentioned, but the costs of the war are 'off budget' and not counted in the deficit numbers). But the majority of the deficit has been created by illconcieved big government programs sponsored and voted for by the GOP. Increasing Ag. subsidies, prescription drugs for seniors, the recent corporate tax bill. Maybe, if the GOP hadn't target Daschle he could have 'obstructed' their less than stellar record on fiscal stewardship.

http://apnews.myway.com/article/20041118/D86DVIG00.html

Comments:
That is frightening.
 
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