Bush Wants Balanced Budget

 President Bush,in his State of the Union address next week, will tell the American viewers that one of his goals is a balanced federal budget. It is a shame that a balanced budget has not been a goal of his for the past six years as Bush has helped make the highest deficits in history with his income tax cuts, and his war in Iraq.

   So now he is going to go on record wanting a balanced budget by 2012 and it is up to the Democrats to make it happen. With Bush warming up for his attack on Iran the Democrats will have a tough time doing to much for the budget because the Bush Crime Family will be adding to the deficit and budget problems

   For those of you who may be slow on this subject, the only way to balance this budget is by cutting spending and raising some taxes, not by cutting spending or raising taxes!

   From the Washington Post

 Historically, the deficit is not particularly large. During Bush's presidency, it peaked at $413 billion in 2004, the biggest ever in dollars. At 3.6 percent of economic output, however, it did not approach the historic high, in 1943 during World War II, when the deficit exceeded 30 percent of gross domestic product . Last year, the deficit dropped to $258 billion, or about 1.8 percent of the economy.

But that view ignores some important facts, U.S. comptroller general David Walker said. The government is living far beyond its means, he said, and if not for excess cash in the Social Security trust fund, it would be recording deficits on a magnitude not seen since the recession of the early 1990s. Take away the Social Security money, and the deficit would have been $434 billion last year, about 3.3 percent of GDP, which rose 6 percent in 2005, compared with 2004.              The Article

 

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