September 04, 2007

IMPEACH BUSH


IMPEACH CHENEY

THE BUDGET DEFICIT IN THE SHADOWS

A few days ago a friend expressed concern that the Social Security trust fund would go bust by 2013. I told her that in fact the Social Security trust fund is sound if politicians would quit stealing from the fund to disguise the size of the mammoth federal deficit that has been created by the Reagan-Bush and two Bush administrations. Bush economics has been nothing but a massive cash grab for the very wealthy, no matter the cost to the financial security of the country. This article by Allan Sloan is at www.washingtonpost.com:

Don't believe the hype: The deficit is much bigger than you think.

There will be lots of celebrating in Washington next month when the Treasury announces that the federal budget deficit for fiscal 2007, which ends Sept. 30, will have dropped to a mere $158 billion, give or take a few bucks. That will be $90 billion below the reported 2006 deficit, and will be toasted by the White House and Treasury as a great accomplishment.

But I have a nasty little secret for you, folks: If you use realistic numbers rather than what I call WAAP -- Washington accepted accounting principles -- the real federal deficit for this fiscal year is more than 2 1/2 times the stated deficit.