Wednesday, January 28, 2004

New York Times demands Greenspan condemn Bush spending spree,

The NYT Editorial calls on Alan Greenspan in order to testify to Congress that Bush's spending is out of control. Frankly, is about time!

"The cut-taxes-and-spend Bush administration and Republican leaders in Congress
are engaging in serious economic malpractice.
The latest evidence of this was provided
on Monday by the nonpartisan Congressional Budget Office, which now expects the
federal deficit to amount to $477 billion this year. That's an alarming 4.2 percent of
gross domestic product and $100 billion more than last year's deficit, and the agency
expects the government's debt to increase by $1.9 trillion over the next decade.

Despite this warning from an office run by a conservative former White House
economist, Douglas Holtz-Eakin, the administration remains in denial. Not only
does President Bush insist — as he did a trillion dollars of red ink ago — that the
deficit is manageable, but he also wants to make his tax cuts permanent, even
though many of them were passed with an expiration date to keep their cost down.
That would cost the Treasury an additional $2 trillion over the next decade, the
budget office says."
[emphasis added]

It's time for a national intervention folks. Greenspan is like the trusty Dad who can't bring himself to believe his son is wildly out of control. Meanwhile, Bush and co. are the sons living it up on a prodigious buying binge with the national credit card. Only of course, in this scenario the son can fire the dad. Hmmm.... maybe we fire the son? Maybe? We'll see in November!!!

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