Wednesday, January 26, 2005

Deeper and Deeper

If this is cutting the budget deficit in half I am glad they didn't promise to grow it! Well, at least they have the first part of the "starving the beast" plan worked out. Let's see them follow through now with the other part which will be election losing cuts in domestic spending. As Rich Little said at one of the coronation balls; "The War on Poverty is over and the poor lost." This brought wild applause from the crown--surprise.

From the Washington Post

An $80 billion request for additional war spending this year will push the federal deficit to a record $427 billion for fiscal 2005, and the government's long-term fiscal health appears to be only growing worse, administration and congressional officials said today.

Senior administration officials announced today they would soon seek at least $75 billion to fund the wars in Iraq and Afghanistan this year, plus an additional $5 billion to build an embassy in Baghdad, continue reconstruction in Afghanistan, offer assistance to the Palestinians and send relief to the Darfur region of Sudan. That $80 billion would come on top of $25 billion already appropriated for the war this year, pushing the total cost of fighting to $105 billion this year, up from $88 billion in 2004 and $78.6 billion in 2003.

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