The Shell Game
''Treat each federal dollar as if it was hard-earned;
it was, by a taxpayer.''
it was, by a taxpayer.''
More bad economic news,
''The trade deficit shot up in March to the highest level in six months, driven by a big jump in imported oil. The politically sensitive deficit with China shrank as US exports to that country hit an all-time high (''U.S. Trade Deficit Higher Than Expected.'')''
The deficit with China may have ''shrunk,'' but it is still bloated, running 20.4% higher than a year ago.
''The Commerce Department reported that the gap between what the United States imports and what it sells to the rest of the world rose to $US63.9 billion ($A77.32 billion) in March, up 10.4 per cent from the February level,'' a ''bigger-than-expected'' deterioration.''
Note the $63.9 deficit figure is for the month of March 07 alone.
''So far this year, the trade deficit is running at an annual rate of $US722.6 billion, slightly below last year's all-time record of $US765.3 billion. The deficit has set new records for five consecutive years.''
Those five consecutive years parallel GWB's dynastic (though far-from dynamic) presidency.
''Critics of President George W. Bush's trade policies contend that the administration has not done enough to protect American workers from unfair foreign competition from low-wage countries such as China.''
Yup, we're even running a deficit with Canada (''The deficit with Canada, America's biggest trading partner, rose by 21.7 per cent to $US5.7 billion in March.''), which should say something.
In tandem with this magnificent trade deficit, the Congress is passing legislation that aids the exit of U.S. dollars to overseas targets (''House Rejects Iraq Pullout Bill.'')
Congress is authorizing $42.8 billion to buy equipment for the Iraq and Afghanistan security forces through August.
And in what I'm sure they saw as a tough stance, it will ''take a summertime vote by Congress to free an additional $52.8 billion, the money needed to cover costs through Sept. 30.'' Which they will grudgingly, with much teeth-gnashing--though dutifully--release from our wallets, lest they be billed yellow-dog traitors, a title which doesn't square well with ''re-election.''
In other words, a mere $95.6 billion dollars to take this sorry slog another 4 1/2 months.
Surely this should be tallied into the deficit trade figures. This money is leaving America and never coming back. Thank you, taxpayers, for your unbidden generosity.
And in yet another odd juxtaposition,
''The Pentagon acknowledged this week that Army National Guard units had only 56 percent of their required equipment. . . Defense Secretary Robert Gates said the Bush administration is asking Congress for $22 billion for the Army National Guard over the next five years, which would take Guard equipment levels up to 76 percent (''Governors Worry About Depleted National Guard.'')
So, the Iraq/Afghanistan police forces get $42.8 billion for 2 1/2 months worth of equipment and training, taking financial priority over U.S. Army National Guard, who may get half that amount to cover five years of needs, to bring them up to partial speed. And all these figures are taken with the tacit assumption that conditions will not worsen. Well, why spend money on the N.G.--we already have their hearts and minds.
"Time's running out, because the longer we wait the more strain we're going to put on the military," Bush said.
Surely GWB understands that Congress, not the military, is the legislative branch of this government. The military is down the organizational chart, and Congress is the voice of the people.
The American taxpayer overwhelmingly is sending all their tax dollars into a bottomless sandpit thanks to GWB and his corporate-patron cabinet. The wishes and desires of the average hardworking American is ignored by these elitists.
Labels: budget deficit ballooning