Rising Hegemon
"I refer, of course, to the debts our nation has amassed for itself over decades of indulgence," he added. "It is the new Red Menace, this time consisting of ink."
Daniels previous job was as George Bush's budget director, where a huge surplus was turned into a gigantic deficit.
Not that it's anyone's fault but the Democrats, of course.
I imagine Broder got what passes as a chubby for him over this.
12 comments:
Actually, calling this deficit fright "the new Red Menace" was unwittingly but entirely apt on his part, as overstating and misunderstanding that situation in the 1950s and '60s also led to catastrophic missteps, deranged and devastating miscalculations, and economic ruination!
I did not need that latter image in my head.
Fiscal year starts for the US on 10/1. So here's the national debt for the eight Bush years:
9/30/2001 ---- $5,807,463,412,200.06
9/30/2009 ---- 11,909,829,003,511.75
Clowns more than doubled the national debt in eight years, and now they're squawking.
I guess W did better than Reagan, who almost tripled the national debt:
09/30/1981 ---- $997,855,000,000.00
09/29/1989 ---- 2,857,430,960,187.32
Assholes. Impervious to fact, unwilling to reason. These are the stupids that are destroying my country. And Americans voted these people in. They should be ashamed.
These are the stupids that are destroying my country.
Yep, including our resident irritant.
Its too bad we don't have an articulate leader with a national forum who could pound these points home over and over. Oh, wait....
"Daniels previous job was as George Bush's budget director, where BILL CLINTON'S huge surplus was turned into a gigantic deficit."
There. Fixed it! Can I have pie, now?
didn't cheeney tell them deficits don't matter?
republikkkans no longer pay bills. now they are working on less bills.
it used to be fashionable for the very rich to ignore creditors and leave their vendors holding the bag.
fashions come and go and come again...
vox
.
Its too bad we don't have an articulate leader with a national forum who could pound these points home over and over. Oh, wait....
Yes, wait.
According to Joe Biden we do have an articulate leader.
Joe Biden:
"I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy," Biden said. "I mean, that's a storybook, man."
The U.S. needs to use the same type of accounting practices as the rest of the world. Nowhere else in the world do accountants use money expected in the future as a piece of current profits. Since the future payment has yet to be paid and it is not certain, accountants in the rest of the world wait for the payment, before adding it into the black column.
The republicans refuse to admit that the Bush/Cheney cabal spent wildly on interesting things like a scientist who created doubt for pay, (finance mercenary,) an educator who advocated for vouchers, retired generals who advanced justifications for war, campaign against Joseph Wilson included a treasonous stunt, and kept the Iraq travesty off the books.
He had to keep the war off the books, because too many people would have realized how stupidly expensive the act of belligerence, based on falsehoods cost in dollars and tens of thousands of unnecessary deaths.
The nation's infrastructure was destroyed, No public transit, heating and cooling, rationed utilities and potable water, no medical facilities and care, food distribution, protection against crime, standing work places, schools, or sanitation services.
To justify the invasion of Iraq requires a leap of faith, suggestibility, immaturity, and the selfishness to dump the cost of a war ten years out to give the perpetrators time to get out of Dodge, before the bill is due.
If support for the war took an additional $75 per pay period out in taxes, enthusiasm and indifference would meet their strongest competitor: wasting money on something without personal gain. War is much more agreeable when sacrifice is unnecessary or is hidden from view.
5 stars for what Anonymous typed......... I see that there was much thought in making a certain party,the RED party.
until BOTH parties admit tax cutting is dead, we won't fix this.
"The U.S. needs to use the same type of accounting practices as the rest of the world. Nowhere else in the world do accountants use money expected in the future as a piece of current profits. Since the future payment has yet to be paid and it is not certain, accountants in the rest of the world wait for the payment, before adding it into the black column."
wow... US GAAP is more restrictive than IAS in most cases...
and noone takes income before it is collected.. you must be confused with using mark-to-market versus the NPV of a string of cash flows.. but that is just normal practice...
How much will you give me now for a promise of $100 payments a week for the next 5 years?
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