July 18, 2005

worked then, works now...

Michael Barone is always worth reading. His latest is: Bush well on way to meeting deficit promise.

So the deficit—the federal budget deficit—is declining sharply, more sharply than just about anyone in mainstream media anticipated. According to figures from the Office of Management and Budget, the deficit is projected to decline from $412 billion in 2004 to $333 billion in 2005, a 19 percent decline. OMB further projects, obviously with less certitude, that it will decline to $162 billion in 2008.

If so, that will mean that George W. Bush will have more than kept his promise to cut the deficit in half in his second term. Back in February, OMB projected a 2005 deficit of $427 billion...

Well, we told you so. But intentional blindness on this subject is still alive and healthy. I remember back in the 1980's conservatives pushing the Laffer Curve, and liberals plugging their ears and saying "La la la I can't hear you." As Orrin said somewhere, "We laffered all the way to the bank."

Of course it worked then. (Remember how the Reagan deficits were going to crush America, and leave our children in poverty?)

And it worked for JFK. (Funny thing, how when Dems are in the WH, prosperity gets happy names. The "Go-go Years?" Remember? If it's a Republican, then you have "Decade of Greed." The prosperity Reagan brought us actually continued into the 90's, but a Dem got into the WH, so instantly "greed" disappeared.

I shudder to think what the coming prosperity will be named, once the libs reluctantly acknowledge that it exists...

Posted by John Weidner at July 18, 2005 9:01 AM
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