November 25, 2003
"...The U.S. Federal Budget Is Out of Control."
This is what happens when you let Republicans govern without adult supervision:
Spending Discipline Proves Unfashionable This Year
By DAVID E. ROSENBAUMWASHINGTON, Nov. 24 — The Medicare bill about to clear Congress is the latest example of how budget discipline is being given short shrift at both ends of Pennsylvania Avenue, critics here and on Wall Street say.
By official calculations, the tax cuts and increases in benefits enacted this year alone will increase the national debt by more than $750 billion over the next decade, and the actual amount could be much larger.
"In fiscal terms, there is no doubt in my mind that this has been the most irresponsible year ever," said Robert L. Bixby, executive director of the Concord Coalition, a bipartisan watchdog organization that favors restraining the budget deficit.
Ed McKelvey, an economist at Goldman Sachs, declared in the investment firm's newsletter last week that "the U.S. federal budget is out of control." ...
(via SF Gate)
Posted by abostick at November 25, 2003 08:35 AM
