Anatomy of a Deficit
Here’s an interesting chart.
Read the full discussion, but in short President Bush already set us up for an enormous 300 billion dollar deficit this year and President Obama has turned that 300 billion dollar deficit into a 1000 billion dollar deficit with a collapsing economy, bank bailout losses, and lots and lots of new spending. Hopefully the economy turns around soon. Not only would that help our tax revenues, a revived economy would take away Washington’s excuse for spending so much.
gst
June 9, 2009
TOTUS puts the Great Pyramids in perspective: http://baracksteleprompter.blogspot.com/2009/06/builder-in-chief.html
John Mansfield
June 10, 2009
Last week, our family walked across the Boulder Dam, and the boys asked why it was built. I rattled off its three purposes: flood control, water storage, and electricity generation. Then, my wife added a fourth: job creation during the Great Depression. I had already been feeling a little low contemplating the fallen state of contemporary society, that feats accomplished two generations ago are beyond our capability now, so I moodily mused “We won’t be getting any Boulder Dams out of the current round of stimulus spending.” And we won’t. Twenty years from, we won’t be able to point to anything and say “That’s what we did with that money.” There certainly won’t be anything so awesome and solid as the Boulder Dam left to remind our great-grandchildren in 70 years that we were a capable people.