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Friday, January 25, 2008

Bush Policies Growing Debt Faster Than Growth

Just one month into his last year as president of the United States, George W. Bush has managed to shift $196 billion of additional tax money into his wars in Afghanistan and Iraq.

Now comes word that the President, along with a compliant Congress are willing to hand out $150 billion on top of that in tax rebates and cuts to boost his "strong economy."

Keep in mind these two most recent transactions totaling $346 billion are exclusive from the everyday goings-on of the Federal Budget and comes on the heels of the Omnibus Appropriations Bill which contained 9,000 hotly criticized earmarks totaling a now laughable $10 billion.

Add the economic booster shot and the 2008 war request together with the $488 billion previously shifted from the domestic side into the War On Iraq, and Bush and his enablers will have subtracted $834 billion from schools, roads, infrastructure, poverty boot-strap programs, healthcare (Oh God, he argued against spending an additional $35 billion for poor kids), environmental and countless of other domestic programs over a period of less than five years. But forget all that, the CAGW actually has a roller on their Webpage asking citizens to call Bush to scrap the $10 billion in "wasteful" earmark spending. That's important!

Again, the disappearing $834 billion is outside of the annual $200-$350 billion national GOP managed deficits over the past seven years.

But look at the bright side, Bush and his enablers like Rep. Paul Ryan will ask for and get(it's an election year) another tax cut to counterintuitively boost tax revenue, so we can spend more money we don't have. Another "perfect crime."

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