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Thursday, March 10, 2005
Bush's Burgeoning Budget Deficit
Reuters has the story.
Maybe it's time to stop listening to the equivocal Greenspan and start listening to a little bit of every day, common sense: spend as much as you take in and don't give away the bank to the greedy bamboozlers and the corporate insiders.
The United States posted a record $113.94 billion budget deficit in February, above most Wall Street forecasts, as higher government receipts were not enough to cover a spending increase.Alan Greenspan claims to believe that deficits are harmful to the US economy. At the same time, he's backing Bush's privatization plan that will run deficits Dick Cheney even concedes will run in the trillions.
The February deficit, reported on Thursday in the U.S. Treasury Department's monthly budget statement, exceeded the $96.70 billion budget deficit in February 2004.
The government took in $100.87 billion in February, nearly $9 billion more than a year ago, but outlays rose more than $26 billion, causing the budget gap to stretch.
Maybe it's time to stop listening to the equivocal Greenspan and start listening to a little bit of every day, common sense: spend as much as you take in and don't give away the bank to the greedy bamboozlers and the corporate insiders.
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