This will update Part III of "The U.S. Economy, What Party Performs Best" published on February 25, 2008.
The budget deficit is in for fiscal year ending 9/30/08 concerning Bush's second to last budget. The deficit came in at $454.8 billion. Another record for Mr. Bush and it does not even contain any of the $700 billion bail out package Mr. Bush urged congress to pass. That will come in Mr. Bush's final budget ending fiscal 9/30/09. The 2008 budget deficit is just another reminder of the damages caused and created by republican policies. Mr. Bush's administration has the distinction of having the four worst budget deficits in U.S. history and still has one more budget to go.
The damages caused by Bush's reckless spending and debt is compounded by the loss of the projected $5.6 trillion surplus projected by the Clinton administration that Bush used to justify his tax reductions that benefited the wealthy the most. One can understand why the economy has failed and so many jobs have been lost under Mr. Bush's administration. Conservative republicans? Their record proves otherwise.
1 comment :
I went back and pulled up your commentary on the series and also the conclusion. Because of the events happening today with the economy I do think the debt that has been created for the country is a big factor in what is going on now. I can also see how greed is playing a big part in the total picture. The average person does not get these kinds of facts from the regular news outlets.
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