George W. Bush has screwed our nation in more ways than most of us can keep track of. The news today on the projected deficit that Bush will leave behind is a jaw dropper:
Bush would leave a record $482 billion deficit to his successor, a sobering turnabout in the nation’s fiscal condition from 2001, when Mr. Bush took office after three consecutive years of budget surpluses.
But hold on.. the NY Times reports:
The worst may be yet to come. The deficit announced by Jim Nussle, the White House budget director, does not reflect the full cost of military operations in Iraq and Afghanistan, the potential $50 billion cost of another economic stimulus package, or the possibility of steeper losses in tax revenues if individual income or corporate profits decline.
The new deficit numbers also do not account for any drains on the national treasury that might result from further declines in the housing market.
There is no doubt about it… We need to get Barack Obama elected and then it’s time to “roll back tax cuts for the wealthiest Americans.” Enough is enough… The Bush legacy grows more dismal every day:
Representative John M. Spratt Jr., Democrat of South Carolina and chairman of the House Budget Committee, said the new deficit figures confirmed “the dismal legacy of the Bush administration.”
“Under its policies,” Mr. Spratt said, “the largest surpluses in history have been converted into the largest deficits in history.”
We sure as hell don’t need 4 – 8 of John McSame.