Trying To Maintain Rationality

Monday, August 29, 2005

You have a full-time job? Congratulations: You owe $350,000.

The Seattle Times reports that "it would cost every American man, woman and child to pay [$145,000] for the long-term promises the U.S. government has made to creditors, retirees, veterans and the poor." That happens to equate to "$350,000 for every full-time worker." As for personal debt?... that's not even included in the calculation. $43 trillion dollars... that the "current debt and deficit, promises for [Social Security, Medicare and Medicaid], pensions, veterans' health care."

Oddly enough:

A few years ago, government finances were the strongest they've been in a generation. Then came a turnaround — and a stunningly quick one. The budget surplus of $236 billion in 2000 turned into a deficit of $412 billion last year. The government had to borrow that much to cover the hole between what it took in
and what it had to spend; a difference that's called the federal deficit.

Blame the bust of the dot-com boom, the ensuing recession, President Bush's federal tax cuts, the Sept. 11, 2001, terrorist attacks and the subsequent wars in Afghanistan and Iraq.

Obviously the economic impact of the dot-com bust can't be blamed on Bush; was out of his administration's control. But this president's handling of the economy since 9/11 has been simply woeful; it's been nothing but a 5 year rich-guy giveaway.


Who's behind this information? Just some dude named David Walker... he only happens to be the UNITED STATES' COMPTROLLER GENERAL.

Jesus H. Motherfucking Christ.

Combine the idiotic economic policy (that, along with the above woes, continues to widen the gap between the richest and poorest citizens while eliminating the middle class) with the just-as-dumb foreign policy (not only wage a war against a non-threat and without international support, but to execute it so incredibly poorly... that absolutely violates the 2 economic efficiencies -- allocative and technical) and we have, arguably, the worst United States administration of all time.


Post a Comment

<< Home