Monday, July 28, 2008

$490 Billion Deficit, Brought to You By...The Republicans!

This just in from the Washington Post:
The federal budget deficit will surge to nearly $490 billion next fiscal year, a record dollar amount, driven by continuing war costs and an economic slowdown that is not likely to turn around fast, the White House will announce today.

After three successive years of decline, this year's deficit will jump dramatically as well, to over $410 billion, according to figures from the Office of Management and Budget. That is likely to scramble the plans of the next president, regardless of which candidate prevails. Either Republican John McCain or Democrat Barack Obama will enter the White House in a tide of red ink.
Heckvua job, Bush Administration! But not to worry, according to John McSame's campaign:
McCain economic advisers this morning shrugged off the new deficit figures. Harvard University economist Martin Feldstein said the surge of red ink is tied to cyclical developments -- the economic stimulus checks and the slowing economy -- not permanent changes.
So, what does Frank Wolf have to do with all this? Well, the fact is that Frank Wolf has voted in lockstep for the Bush administration’s irresponsible budget polices that have turned a budget surplus into massive federal deficits and mountains of debt that our children and grandchildren will be forced to pay for.

Over the past 7 1/2 years, Frank Wolf has repeatedly voted for Republican budgets that have created the largest budget deficits in history and increased the federal debt from $5.8 trillion to more than $9 trillion!

During this period of unprecedented fiscal irresponsibility, Frank Wolf has been George W. Bush’s willing accomplice in creating more debt in the past six years than every single president in history… combined. Wolf has opposed responsible proposals to require increases in spending to be offset, and instead has voted to raid Social Security and Medicare.

If you want 2 more years of this, vote for Frank Wolf in November. If you think it's time for a change, vote for Judy Feder. Yes, it's that simple.

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