{"id":1136,"date":"2004-03-09T19:09:43","date_gmt":"2004-03-10T02:09:43","guid":{"rendered":"http:\/\/www.edgewiseblog.com\/mjh\/uncategorized\/its-simply-huge-and-we-know-who-to-blame\/"},"modified":"2004-03-09T19:09:43","modified_gmt":"2004-03-10T02:09:43","slug":"its-simply-huge-and-we-know-who-to-blame","status":"publish","type":"post","link":"https:\/\/www.edgewiseblog.com\/mjh\/nada\/dump-duhbya\/its-simply-huge-and-we-know-who-to-blame\/","title":{"rendered":"It&#8217;s Simply Huge and We Know Who to Blame"},"content":{"rendered":"<p><a title=\"Deficit Issue Page\" href=\"http:\/\/www.act4victory.org\/issues\/deficit\/index.cfm\">THE DEFICIT CRISIS<\/a><\/p>\n<p>President Bush&#8217;s reckless tax cuts for the wealthy have squandered a historic budget surplus and thrown the country into the largest deficit in history. <\/p>\n<p><b>Due to fiscal mismanagement, the current $374 billion deficit is expected to rise to more than $520 billion in 2004.<\/b> As a result, states are losing out on federal aid and are being forced to cut health care and seniors programs and increase college tuition in virtually every state. <\/p>\n<p><b>Bush 2005 deficit will top $520 billion.<\/b>  In his proposed 2005 budget, Bush revealed the budget deficit will reach an astonishing $521 billion &#8212; a full $150 billion higher than last year&#8217;s record-setting deficit. (&#8221;Deficit Is $521 Billion in Bush Budget,&#8221; Washington Post, February 2, 2004) <\/p>\n<p>And, if Republicans have their way and make the tax cuts for the wealthy permanent, <b>our national debt will exceed $10 trillion by 2014<\/b>.   As they stand, the Bush Administration&#8217;s tax cuts for the rich are projected to add $2.6 trillion to the government&#8217;s debt between 2002 and 2014. If the tax cuts are made permanent, an additional $2.9 trillion will need to be borrowed over the next decade &#8212; <b>a total of $5.5 trillion over the next ten years to pay for the tax cuts alone<\/b>. <\/p>\n<p>[mjh: Thanks, MD]<\/p>\n<blockquote><p>Most people&#8217;s eyes glaze over at such numbers. We all know how speculative such projections are. What we need to remember is the tax cuts were passed with an expiration date &#8212; that&#8217;s HOW they made into law. Since then, a lot of things have changed for the worse. Now Bush says anyone who doesn&#8217;t vote for making them permanent is for tax <i>increases<\/i> (not simply for fiscal responsibility). He&#8217;s using the same argument with the &#8221;Patriot&#8221; Act. Bush is a scoundrel. mjh<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>THE DEFICIT CRISIS President Bush&#8217;s reckless tax cuts for the wealthy have squandered a historic budget surplus and thrown the country into the largest deficit in history. Due to fiscal mismanagement, the current $374 billion deficit is expected to rise to more than $520 billion in 2004. As a result, states are losing out on &hellip; <a href=\"https:\/\/www.edgewiseblog.com\/mjh\/nada\/dump-duhbya\/its-simply-huge-and-we-know-who-to-blame\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">It&#8217;s Simply Huge and We Know Who to Blame<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1136","post","type-post","status-publish","format-standard","hentry","category-dump-duhbya"],"_links":{"self":[{"href":"https:\/\/www.edgewiseblog.com\/mjh\/wp-json\/wp\/v2\/posts\/1136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.edgewiseblog.com\/mjh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.edgewiseblog.com\/mjh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.edgewiseblog.com\/mjh\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.edgewiseblog.com\/mjh\/wp-json\/wp\/v2\/comments?post=1136"}],"version-history":[{"count":0,"href":"https:\/\/www.edgewiseblog.com\/mjh\/wp-json\/wp\/v2\/posts\/1136\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.edgewiseblog.com\/mjh\/wp-json\/wp\/v2\/media?parent=1136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.edgewiseblog.com\/mjh\/wp-json\/wp\/v2\/categories?post=1136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.edgewiseblog.com\/mjh\/wp-json\/wp\/v2\/tags?post=1136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}