Not That I Am Not Grateful
$40 billion is a lot of money. Across five years, it is still a lot of money. And I am happy for any reduction in spending and the deficit. But do not expect me to applaud a reduction effort that results in only $8 billion per year, when our deficit is over $300 billion.
The CBO says last year's deficit was $331B, and this year's will be $314B. So according to this -- if it applies this year, which I don't know, but for the sake of argument -- our deficit this year will be "only" $306B. Wooo.
And perhaps worse -- a sign of things to come, maybe? -- for the first two months of FY2006, our deficit is $130B, which is $15B higher than it was last year at this time. So even with this "cut" we are so far still behind last year!
Granted, it's only two months, and with an improving economy, we can expect higher tax receipts this year (especially over the next few months) than last year. But still, this $8B just isn't, well, exciting to me. On the contrary, that the number is so small is downright depressing.
The CBO says last year's deficit was $331B, and this year's will be $314B. So according to this -- if it applies this year, which I don't know, but for the sake of argument -- our deficit this year will be "only" $306B. Wooo.
And perhaps worse -- a sign of things to come, maybe? -- for the first two months of FY2006, our deficit is $130B, which is $15B higher than it was last year at this time. So even with this "cut" we are so far still behind last year!
Granted, it's only two months, and with an improving economy, we can expect higher tax receipts this year (especially over the next few months) than last year. But still, this $8B just isn't, well, exciting to me. On the contrary, that the number is so small is downright depressing.
Now Playing: Monty Python - Christmas In Heaven
"It is the common fate of the indolent to see their rights become a prey to the active. The condition upon which God hath given liberty to man is eternal vigilance; which condition if he break, servitude is at once the consequence of his crime and the punishment of his guilt."
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