Thanks George
In the spring of 2007, the Dallas Federal Reserve Bank published the graphic just below, as part of an article that attempted to explain how the then current budget projections ($187 billion deficit in fiscal 09, $61 Billion surplus in fiscal 2012) could be met.
Now that we're getting close to FY 09, it's pretty obvious that the "pessimistic projection" most closely tracks reality.
I'm old enough to remember when this shit mattered to people.
Now that we're getting close to FY 09, it's pretty obvious that the "pessimistic projection" most closely tracks reality.
I'm old enough to remember when this shit mattered to people.
Labels: Bush administration, economy
Since 1949, Durhamites have slept soundly, secure in the knowledge that, in our town, erection can be depended upon. Now, thanks to the power of the internets, we can spread that security all over the world.
5 Comments:
Don't forget that Little Georgie's trillion dollar Great Iraqi War Adventure is not included since it has always been "off budget".
By
MK, at 3:17 PM
Is it me, or am I picking up on a thread out there in the MSM that Bush's policies, cronyism and just plain general incompetence is (italics) actually hurting the interest groups who installed him into office in the first place? (end italics)
I can't wait to vote this November. Because if there was anything I learned from Ronald Reagan it's this: when you're in the voting booth, ask yourself "am I better off today than four years ago." Then let your hand guide you.
My 401K is devalued by at least 20%, if not more. I'm going to take that out on John McCain and that c* wife of his. I mean, that's what John calls his wife. I would never call her that personally, but in their case I'm more than happy to make a liberal exception.
Still waiting for that email from The New Yorker.
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Tony, at 7:34 PM
Of course, the failure to meet the OMB's rosy projections for 2012 will be blamed squarely on the Democratic Congress/(President) -- as anything short of doing absolutely nothing for the next three years will result in a 2012 budget deficit. (Talk about fuzzy math.)
It doesn't matter if taxes are raised or cut, if spending is held in check, cut or increased. The balanced budget of 2012 only exists in Imaginationland -- and we don't want to go there, the song is far too annoying.
Democrats need to be proactive and label the OMB as exactly what it is -- a politicized accounting group that serves at the personal pleasure of the President. (Something along the lines of: if the President was willing to fudge the figures of an outside agency to get his war in Iraq, just imagine how manipulated the numbers are that come out of the White House accounting office.)
I'm curious as to what the CBO's numbers look like...
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Dan S., at 10:49 AM
If you look at the graph closely enough, there's a very strong correlation between which party is in the White House, and whether the graph is upward or downward sloping. Especially since 1972.
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Barry, at 11:38 AM
Well, yeah, Barry, but if you start throwing actual numbers at people, they'll get suspicious. After all, if your argument held any merit, you wouldn't need evidence to back it up, would you?
By
Anonymous, at 12:09 PM
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