Wednesday, August 6, 2008

Bush, Congress and The 2009 Federal Budget Deficit

The Federal budget deficit for 2009 is now projected at a record 482 billion dollars. That will eclipse the old record of 413 billion set at the end of George Bush's first term in 2004.
The next President will certainly have a sobering first few days in office when he realizes that there is no money left to spend to cover all the promises that he made to get into the Oval Office to begin with.

In fact, he has to find at least 482 billion dollars just to make ends meet. Of course, the next President can just add to the ten trillion dollars of cumlative national debt that the country already has a tab for.

In truth, the record budget deficit of 482 billion for 2009 is actually going to be to low. It assumes higher economic growth than is forecast and doesn't account for the total cost of the country's ongoing military obligations in Iran and Afghanistan. Sooner or later the Congress of the United States has got to stop spending money that it doesn't have and the President needs to veto legislation that is fiscally irresponsible.

A stewardship of foreign Wars with dubious management and irresponsible fiscal spending has dramatically lowered the public's opinion of the performance in office of President Bush. Huge annual deficit spending is also contributing to the damage to the Republican brand in this election year.

During the last decade, pork barrel domestic spending to insure re-election has become an addiction for the career professional politician in both major political parties. The stealth cover of Congressional earmarks have been the used to hide their domestic spending trail.

Therefore, a President who wants real change in Washington D.C. in 2009 will have to reign in, "out of control" federal spending first. The longer the delay, the more we all will have to eventually pay. (For more on Congress and spending see: The Surreal World Of The United States Congress on

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