Budgetary Hell

Posted at 8:48 am on Wednesday, February 8, 2006, in Uncategorized, and tagged bush.

For a fiscal conservative, Bush has worse credit problems than the Check-into-Cash people…

Looking at this simplistic graphic of Bush’s proposed budget breakdown in the New York Times, two things immediately catch one’s eye.

First off, 581 billion dollars and twenty-one percent of our spending will be on Social Security. (No wonder Bush has tried to reform it. Bush had proposed a bad plan, however. But the democrats need to tackle this issue before (a) it gets even more out of hand, and (b) the republicans take advantage.

Secondly, and more importantly, due to Bush’s reckless spending and habitual tax cuts for the wealthy, the massive (and record) debts imposed on the American people is enormous. Not only that, but the 354 billion dollars of debt costs an additional 247 billion dollars in interest (or nine percent of spending). Double whammy.

Images: New York Times

No related posts.