Friday, October 15, 2004


Yahoo! News - Federal Deficit Surges to Record $413B
WASHINGTON - Democrats are blaming President Bush for the record 2004 federal deficit of $413 billion, but Republicans say the figure shows that the economic and budget pictures are brightening.

Republicans emphasized that the figure was an improvement from earlier deficit projections. At the beginning of this year, the White House projected a $521 billion shortfall for 2004 and the Congressional Budget Office forecast a gap of $477 billion, though both lowered their forecasts as the year progressed.

"While the deficit is unwelcome, if we stick with the president's plan of economic growth and spending discipline,(Spending discipline? Is that where we cut funding for the states, education, the elderly, the environment, etc. etc., so we can give big tax breaks to corporations and to the wealthy? That discipline?)we will continue to see improvement and we will cut the deficit by more than half in five years," said White House budget director Joshua Bolten.

Citing data pointing to economic improvements, Treasury Secretary John Snow said, "All of this shows that the president's tax relief initiatives are having the intended effects."

These guys absolutely amaze me. As Judge Judy would say, "Don't pee on my leg and then tell me it's raining."