Friday, July 30, 2004

But, hey, he does oppose gay marriage!

The Bush White House today admitted that the federal budget deficit for this year will be the biggest ever. According to projections, the government will spend a record $445 billion more than it takes in. Bush had projected a $262 billion surplus in 2001 when he was selling his tax cuts to Congress.


At 11:13 PM, Blogger umm-no said...

What's the point? How does this have to do with the "social gospel?"

At 2:39 AM, Anonymous Anonymous said...

And you're wanting him to spend more on social programs and make the deficit even larger?

At 1:49 PM, Blogger jrl20 said...

Second comment first: We could BOTH spend more on social programs AND eliminate the deficit if we hadn't had the trillions of dollars in tax cuts. I DO want Bush to spend more on social programs. And I want him to raise taxes on the wealthy to pay for it.

First comment: The deficit has to do with the social gospel in this way: the more debt we take on, the more the government pays in INTEREST ON THE DEBT. The more the government has to waste paying interest on debt (which we wouldn't have had but for the tax cuts on the wealthy) the less we can spend on social programs. I remember reading a statistic in college that 15% of the money the government takes in goes towards paying down JUST THE INTEREST on the national debt.

The tax cuts are MORE COSTLY in terms of social programs than they appear. Bush is already cutting social programs, but we are eventually going to really pay for those tax cuts, and we're going to have to cut a lot more.


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