WP: Analysts Say Outlook For Bush Plan Bleak

[kskiska]

Too Much Deficit, Not Enough Revenue

President Bush signaled yesterday that he would add personal investment accounts to the Social Security system, simplify the tax code without raising taxes and cut the budget deficit in half, all before he leaves office in 2009.

Ambitious as those promises are, they may be mathematically impossible, budget and policy analysts say.

"It doesn't seem like we're going to see any tightness in U.S. budget policy anytime soon," said Rebecca Patterson, senior currency strategist at Wall Street giant JPMorgan Chase.

Bush pledged early this year to halve the deficit in five years, a promise he renewed yesterday. "I would suggest look at our budget that we've submitted to Congress, which does, in fact, get the deficit down, cut in half in five years," Bush said.

But in an independent analysis of that budget, the nonpartisan Congressional Budget Office concluded it would not fulfill that promise. The deficit in fiscal 2004, which ended Sept. 30, was $413 billion. Under Bush's plan for spending and taxes, the deficit would be $258 billion in 2009. If anything, that may understate the size of the deficit in coming years because it does not include any additional costs for the wars in Iraq and Afghanistan. The Pentagon is expected to seek an additional $70 billion early next year.

more…
http://www.washingtonpost.com/wp-dyn/articles/A26458-2004Nov4.html

[Birthmark]

1. They're forgetting...

...that once Bush and Brownshirts axe all the social programs, they'll be plenty of money. I understand that we're even looking into buying ourselves a couple more wars.

[Born Free]

17. Sad, right wing part of AARP will help them

The AARP helped the right wing shove the prescription drug plan through and they will help the right wing shove the privatizing of social security - they will probably promise current retirees no change in benefits and screw the people that are close to retirement, paid in all their lives and have no way of building up a personal account. The AARP knows the people will be screwed but they will help push it through, give the right wing fanatics that want to bankrupt America credibility so seniors support them.

[saigon68]

20. There's still a few jobs at walmart for seniors

With no benefits of course-- like greeters.

[Career Prole]

2. "Too Much Deficit, Not Enough Revenue"...that's the least of our

problems. I wish it was only money that S.O.B. is spending.

Rick Hamel

[Furity]

10. I hear you

loud and clear. Its amazing, isn't it?

~Furity

[Yo_Mama_Been_Loggin]

3. Personal investment accounts?

People can already start one. It's called a 401k. By the way mine has lost big time under * since the stock market has sucked so badly on his watch.

[neverforget]

4. Isn't that the plan? Drown the gov't in debt so all non-military programs

have to be cut?

[Piperay]

16. They call it 'starving the beast'

and that is exactly what they plan on doing that way they can cut all social programs etc. EVERYTHING but the military, those fucking bastards! :mad: :grr: :nuke:

[The Zanti Regent]

21. Well, according to Bush, the CHURCHES are supposed to help the needy

Wow, I wonder if Falwell, Crouch, and Robertson will take time from counting all their money in Swiss bank accounts to do that?

[daleo]

5. The plan is, to steal all the oil

But those darn Iraqis can just blow up the pipelines. Stalemate.

[Wright Patman]

18. 380 tons of looted explosives

is probably enough to keep on blowing up pipelines for at least the next decade. And that wasn't the only armory looted by any means.

[hatrack]

25. 140,000 troops on the ground vs. a few hundreds guys with Semtex on camels

And some really, really long pipelines reaching across miles and miles of empty desert. Hmm, wonder how that little setup will work out. Oh, never mind, we already know!

The only analogy I can think of that's appropriate here is from A Bright Shining Lie's description of the Tet Offensive. It describes how Westmoreland thought that he controlled Vietnam with over half a million troops. He didn't.

What he controlled was half a million very small islands where each of his soldiers stood.

[Nicholas_J]

6. Not really

They cannot control Iraqi oil, and it does not seem like the insurgents are going to leave them in peace for years. I bet that many of our tanks and personel carriers find out where a good deal of the missing explosives are buried in the streets of Fallujah when they begin the military strike. THe attempy to take over Fallujah is likely to be brutal, and could increase the American death count by fifty percent or more.

[savistocate]

8. Yes, in the news earlier, briefly,

they plan to __accept __high casualties.

The devil's work by God's govt.

[leesa]

7. But of course they spent millions to get the ass "elected"

Clearly he has screwed everything up and yet they still want him in office.

[bhikkhu]

9. 147b deficit projected 1st quarter this year, I read

thats a 588 yearly pace.

[hangloose]

11. This guy doesn't care what he says he's anointed by God for

a higher purpose. What he has to say to those of us not part of the "Dominionist" faith will be destroyed by fire an brimstone, we don't count. it's like shit on the bottom of your shoe, you have to pay attention to it but you scrape it off as soon a possible.

[DBoon]

12. Faith based economics

The more you spend the more god gives you, right?

[Julien Sorel]

13. These economists and their foolish pre-occupation with facts.

George wishes it, and so it will happen.

[CBHagman]

14. We all know Bush can't count.

For starters, he says he's a baby boomer. Uh, no, he isn't, not based on when he was born.

Then he says he's going to halve the deficit in five years. Didn't someone tell him presidential terms last only four years? The Constitution can't be amended that fast.

Grr...

[Wright Patman]

19. What is a baby boomer then?

I always thought it was those born between 1946 and 1964.

[marew]

22. You are right...1946-1964 n/t

[0rganism]

15. Too bad JP Morgan Chase didn't think of that...

BEFORE THEY BECAME HIS 18th-LARGEST CAMPAIGN DONOR

[Supersedeas]

23. mathmatically impossible...no problem for faith based economics

[shrike]

24. Didn't stop them in Iraq. And I'm not talking about the invasion

Read Naomi Klein's "Baghdad Year Zero." We're next, people.

[Orangepeel]

26. If he can get the deficit down to $258 b by 2009, I'll be very impressed

I'll also eat my hat.

[arwalden]

27. So... The Manned Mission To Mars Is Off?

Is that pretty much the idea?