View Full Version : Good news --- Bush style

09-08-2004, 08:46 AM
Last week, the jobs report showed 144,000 new jobs. Never mind that most economists were predicting 150,000 and most agree that 150,000 were needed just to keep up with the expansion of the labor force --- the Bush administration had predicted 300,000. So this really was a disappointing report, but that didn't stop Bush from crowing about it like it was a major victory.

Then, the CBO released their budget projections which showed a $422,000,000,000 deficit - a new record. The White House bragged about this too. Seems that, although it's still the largest budget deficit in history, it's $56B less than predicited, so now were supposed to believe that it is "a sign of the economic growth that is a result of President Bush's leadership on tax relief."

But here's the kicker -- if you read, the rest of the report (http://www.cbo.gov/ftpdocs/57xx/doc5773/08-24-BudgetUpdate.pdf) you see that things are getting worse...

although the deficit for fiscal year 2004 is anticipated to be $56 billion lower than its earlier estimate the deficits projected for 2006 and beyond have grown.