"ALL CAPS IN DEFENSE OF LIBERTY IS NO VICE."

Tuesday, September 09, 2008

ACCORDING TO THE CBO: THE DEFICIT IS UP - BUT IT'S NO BIG DEAL

THE CBO'S DIRECTOR'S BLOG:
CBO estimates that the deficit for 2008 will be $407 billion, substantially higher than last year’s $161 billion.

As a share of the economy, the deficit is projected to rise to 2.9 percent of GDP this year, up from 1.2 percent of GDP in 2007.
  • THE ALL-TIME PEAK DEFICIT WAS 1983 - AT 6% OF GDP.
  • AND WE RECOVERED FINE.
  • CURRENT FEDERAL BUDGET DEFICITS ARE NOT TOO BIG.
  • WE DON'T NEED TO RAISE TAXES TO MAKE DEFICITS SMALLER -
  • WE NEED TO GROW THE ECONOMY.
  • AND THE DEFICITS AIN'T THE BUSH TAX CUTS' FAULT.
  • IT'S THE ECONOMY, STUPID!
  • IF THE ECONOMY WASN'T SLOWING THEN THE DEFICITS WOULDN'T BE GETTING BIGGER.
  • ALSO: BUSH AND CONGRESS SPENT WAY TO MUCH MONEY.
  • WE NEED TO ELECT A REAL PORKBUSTER .
VOTE ACCORDINGLY.

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