Tuesday, January 25, 2005
Spend, Spend, Spend
CBO Ups Deficit Forecast by $20 Billion
Throw in the Iraq war costs for the year (estimated at $80 billion) and you still get a record deficit. It's not the impact of 9/11, or the tech bubble bursting, or homeland security, but rather naked pork barrell spending and the Administration's embrace of Big-Government conservatism. How many vetoes have there been? Oh yes...none.
Of course the irony is that the cost of the Iraq war will soon top out the $200 billion dollar cost the former Bush economic advisor Lindsey forecasted before the wars start. That forecast got him fired.
The U.S. budget deficit will reach $368 billion this year before any war costs are added in, the Congressional Budget Office said on Tuesday, according to a source familiar with the worse-than-expected numbers.
Throw in the Iraq war costs for the year (estimated at $80 billion) and you still get a record deficit. It's not the impact of 9/11, or the tech bubble bursting, or homeland security, but rather naked pork barrell spending and the Administration's embrace of Big-Government conservatism. How many vetoes have there been? Oh yes...none.
Of course the irony is that the cost of the Iraq war will soon top out the $200 billion dollar cost the former Bush economic advisor Lindsey forecasted before the wars start. That forecast got him fired.
