"No matter how paranoid or conspiracy-minded you are, what the government is actually doing is worse than you imagine." - - - William Blum

July 17, 2003

One (make that A LOT) for the record books


Here are a few tidbits of info on Bush's administration of our economy:
First president likely to run up a trillion-dollar deficit in one term: Yesterday, the Office of Management and Budget projected a $1.9 trillion increase in the national debt over the next five years.

Sharpest plunge from surplus to deficit: The Clinton administration delivered a record budget surplus in its final year of $236 billion. Bush has delivered a stunning $691 billion reversal of fortune in just three years.

Most dramatic swing in long-term outlook: When Bush took office, the 10-year budget of the United States forecast a surplus of $5.6 trillion dollars, a nice cushion to have in place with the Baby Boom set to retire. But after two big sets of tax cuts and a variety of spending increases, a reasonable projection of the ten-year deficit now exceeds $5 trillion -- an $11 trillion swing.

Most jobs killed in a first term: The economy has lost 2.6 million jobs since Bush took office. He's almost certain to become the first president since Herbert Hoover to leave the economy with fewer jobs than when he took office.
Wow. I'm thinking that the Guinness Book people will be knockin on Bush's door any day now...

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