Thursday, May 18, 2006

Delusional House leader ignores deficits

The Republican-led House of Representatives passed a $2.7 trillion budget that expands the deficit and raises the debt-ceiling. Again.

And, of course, the Repubs wasted no time insisting that none of it means anything.

No Democrats voted for the Republican budget, which sets broad outlines for spending throughout the government.

House Majority Leader John Boehner, an Ohio Republican, addressed conservatives' concerns about deficits saying, "With revenues rising and holding the line on spending we can in fact balance the budget in the next four or five years."

But the House budget forecasts a $348 billion deficit next year and it could be higher since the measure sets aside only $50 billion for the wars in Iraq and Afghanistan, which have been running at about double that cost annually.

With U.S. government debt rapidly escalating, the budget authorizes a $653 billion increase in borrowing authority next year to total $9.62 trillion.
So, as bad as it is, this "wartime" budget does not even provide enough money to pay for the wars in Afghanistan and Iraq.

And, the Republicans continue to lie about being able to erase the deficits within five years because of all that voodoo revenue growth.

0 comments: