Posted on 01/08/2006 5:52:11 AM PST by billorites
THE UNITED STATES, under control of a Republican administration and Congress, is borrowing and spending so quickly that the government will run out of money next month unless the debt ceiling is lifted, Treasury Secretary John Snow said last week.
Columnist Bruce Bartlett nicely laid out the irresponsibility of the Bush administration and Congress in a column a few weeks ago. By the conventional measure of federal borrowing, the debt grew by $2 trillion on George W. Bush's watch. But, Bartlett noted, that figure does not include the government's promises for Social Security and Medicare.
Adding all of the money Washington owes, "we see a grand total of increased indebtedness of more than $20 trillion during the Bush presidency, of which more than 40 percent is accounted for just by the Medicare drug benefit," Bartlett wrote.
As if that weren't bad enough, the Congressional Budget office estimates that spending on Medicare and Medicaid is projected to triple by 2050, if Congress shows restraint, or by 2030 if it does not, Bartlett lamented.
Because of the gross overspending reflected in those numbers, the Treasury Department wants permission to borrow even more. And Congress is sure to give it the OK, without tying that increased borrowing power to any forced spending restraint.
Remember when Republicans spent most of their time talking about fiscal responsibility, about treating the federal budget like the family budget? Somehow, we doubt President Bush and GOP leaders handle their own finances the way they are handling the public's.
I have started calling the party the Respendicans.
The next time you hear a politician use the word "billion,"
casually, think about whether you want the politician spending your tax
money.
A billion is a difficult number to comprehend, but one
advertising agency did a good job of putting that figure into
perspective in one of its releases.
a. A billion seconds ago it was 1959.
b. A billion minutes ago Jesus was alive.
c. A billion hours ago our ancestors were living in the
Stone Age.
d. A billion days ago no one walked on two feet on earth.
e. A billion dollars ago was only 8 hours and 20 minutes, at
the rate our government spends it.
cant we just print more cake
this is only half correct, republicans that are in Congress lack the balls to control it
Who was the Congressman back in the '60's who said, "A billion here, a billion there, and pretty soon we're talking about real money"? That was the beginning of the arrogance about money by our Congressmen, I think.
When do we declare bankruptcy and start over?
Don't worry, we'll let the next generation pay for it.
Senator Everett Dirkson. . .
To bad the voters don't have the balls to elect someone else.
Imagine the kindness and compassion they will show their aging parents.
This post is sure getting a lot of action. LOL. No one cares.
Amazing how the "Fiscal hawks" NEVER ever seem to have anything BAD to say about the Democrats who are making these "cuts" a campaign issue.
Just because the respendicans will spend a littl less that does not mean they are not spending this country into the poor house.
Whaaa! TXBSAFH hates the Republicans! The Republicans are not doing only what TXBSFAH wants when he want's it. Whaaaa!
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