Bush's Legacy: Debt

I read this, The Dubious Priorities Of The President’s FY 2009 Budget, and this...

The President’s budget would provide more tax cuts heavily skewed to the most well-off while cutting vital services for low- and moderate-income Americans, generating large deficits, and increasing the strain on states already confronting budget problems as a result of the economic downturn. The budget reflects misguided priorities that would leave the American people more vulnerable in a number of ways.

And I thought, "thank heaven Bush's term is almost over and the next president can start fixing the damage he's done." Then I read Robert Reich's column, Financing the Common Good, and found myself getting nervous.

A new Democratic president will face many of the same challenges Bill Clinton faced at the start of his administration -- but all made worse by George W. Bush. Clinton, recall, inherited a fiscal straightjacket. At the start of 1993, the federal budget deficit was running $300 billion a year as far as the eye could see. Prior Republican administrations had sought to "starve the beast," going deep into the red by spending heavily on defense while at the same time cutting taxes.

Yes, I remember those years, and I see the similarities between the economy then versus today, but it can be fixed. Right?

A new Democratic president coming into office in 2009 will face a national debt much larger than it was in 1993. Despite the $5 trillion 10-year budget surplus that ended the Clinton years, the federal debt at the end of the Bush years will be almost $4 trillion larger than it was then. It will have grown about 70 percent during Bush's reign. If you assume 5 percent interest, the Bush debt burden will require the government to pay its creditors -- prominent among them, the Japanese and Chinese -- $200 billion a year, forever. That will use up a lot of tax revenue even before any of the nation's problems are addressed. In this way, George W. and company have done Reagan one better. They've not only starved the beast through tax cuts for the rich and increased defense spending; they've just about dismembered it. [emphasis mine]

To all the people who voted for Bush, I hope you're happy. You got your short-term monetary gain at the expense of my grandchildren and their grandchildren into perpetuity.

Two Views From Canada

Canada's equivalent of Donald Rumseld and Dick Cheney all rolled into one has the solution for our energy woes:

[Former deputy prime minister] Hellyer wants to use alien technology to eliminate burning fossil fuels. He pointed out to the Ottawa Citizen ... that alien spacecraft have to travel vast distances to reach Earth. So they must have extremely advanced propulsion systems that don't rely on sweaty little green guys shoveling coal into a flying saucer furnace. [...]

Hellyer, 83, told the Ottawa Citizen, "We need to persuade governments to come clean on what they know. Some of us suspect they know quite a lot, and it might be enough to save our planet if applied quickly enough."

How about that? The solution has been right under our noses in Roswell, N.M. all this time! Would someone please tell Washington?

Moving along to a more sane (and chilling) point of view from Canada, The Old Bill recently wrote about evil and what it might look like. He concludes that it's likely to resemble Erik Prince (founder of Blackwater Security, a private mercenary army for hire that has the largest private military base in the world) or his father, Edgar, founder of the Family Research Council.

Old Bill is concerned about other member's of Prince's family too:

Erik's mom Elsa is a board member of Focus on the Family. His sister, Betsy, one time head of the Michigan Republicans, married Dick Devos, son of Amway - their foundation is a strong backer of Focus on the Family. His Freiheit Foundation funds numerous theocon/religious right groups.

What's Old Bill's conclusion?

Let's see, a major war-profiteer, mercenary army CEO. . . does that seem a bit at odds to the gospel? to the person/spirit/ethos of Jesus?

[...] having watched the rise of the religious/theocratic right in the US for almost 3 decades, I'd never considered the possibility of them creating their own army, I'd underestimated the wiliness of the devil. Yet here's a group that has created its own army, with the blessing of the Bush administration, and is amassing huge profits. Appears Corrie ten Boom was right. Sounds over the top, I know, but I think as Canadians we need to start asking what we will do if/when the US drifts/lurches into a fascist state, a theocracy. . . And as Christians, we need to start asking the questions Bonhoeffer asked, at what point must we give up our silence, our comfortable acquiescence? [emphasis added]

If you think Old Bill is overreacting, then consider this statement from Aaron, a priest-in-training at Ave Maria University in Naples, Florida (built by Tom Monaghan, Domino Pizza billionaire):

Aaron argued that the United States can only be saved from moral perdition if it, like Ave Maria, embraces the magisterium as supreme. "We don't believe in the separation of church and state," he said, "and this country should orient itself toward Christ. The foundation of Western civilization rests on Christendom, which means that America owes its existence to the Catholic Church." [emphasis added]

Our country should orient itself toward Christ? A good starting point would be to end the war in Iraq, the one based on a lie.