The Titanic Stays the Course

This idea of an economic stimulus package to bail out our ailing economy has all of the merit of "Mission Accomplished." Its only purpose is one brief flash of light in the final, darkest last days of the Bush administration. The sound economy which Georgie loves to brag about is only an illusion, as the entire Bush economy has been one big stimulus package. Under the Bush administration the US has borrowed 500,Bill,ill,ion dollars to fund the Iraq war. Most of this money is spent in the US with contractors and has the effect of heating up our economy and causing inflation. Then we ship their entire product over to Iraq and blow it up, creating a never ending demand for more defense spending. In adition to this, Bush has given US tax cuts and rebates with money we have borrowed from the Chinese. These bucks trickle down to the middle class citizen, he rushes over to Walmart and buys more goods from the Chinese, so they can loan US more money. Bush's numbers look pretty good, except for the fact that our national debt has grown to 9.3, Trill,ill,ill,ion dollars, wages have declned, cost of living is up, as well as unemployment, inspite of all this stimulus. Now Little George has proposed a stimulus to cure his stimulus and the congress has signed another 151, bill,ill,ion dollar Chinese note. Why? Because, George wants to go out on a high note and no congressman will vote against giving money to the people in an election year, even if it is borrowed from China. Brilliant! Well guess what, your little stimulus pittance is going to cost your children 400,bill,ill,ion dollars before it is repaid. You will be spending your children's inheritance. If you are planning on voting for another republican conservative in the next election to bail US out, you had better look at the facts.
The chart above, based on historical figures from the nonpartisan Congressional Budget Office, shows the total deficit or surplus for each fiscal year from 1990 through 2006. Keep in mind that fiscal years begin Oct. 1, so the first year that can be counted as a Clinton year is fiscal 1994. The appropriations bills for fiscal years 1990 through 1993 were signed by Bill Clinton's predecessor, George H.W. Bush. Fiscal 2002 is the first for which President George W. Bush signed the appropriations bills, and the first to show the effect of his tax cuts.
But Ned, you ask,"What about Reganomics?" Lookie lookie.









Remember the old republican saw, that defecit spending isn't a problem as long as its percentage of GDP is not too high? Do they intend to return to post World War II levels?
~NED~