Tuesday, September 07, 2004

From the Ya Think?! Files

Will somebody please remind me to kick everybody's ass at the NY Times tomorrow when I have a moment -- that is, if I can squeeze it in in between beating Judy Woodruff and Bill Schneider and Wolf Blitzer and Daryn Kagan at CNN and the entire staff (and crew) of MSNBC? Thanks.

Careening from wild understatement to gross negligence, the NY Times comes up with this milquetoast headline: Bush Unlikely to Fulfill Vow on Deficit, Budget Office Projects

Sigh. What are we going to do with these people? The revolution I am advocating is a media revolution. Throw the bums out. "Unklikely to Fulfill"?? "Unlikely to Fulfill"???? YA THINK?!?!?

From the article:

Budget projections, by Congress as well as the administration, have been notoriously wrong in the past — failing to anticipate a flood of tax revenue during the last 1990's and then badly underestimating a plunge in revenue after the stock market collapsed in 2000.

But the new report is sobering because it arrives at similar conclusions even when analysts made extremely optimistic assumptions about war costs in Iraq and robust economic growth.

"The message is that you cannot grow your way out of this," said Douglas Holtz-Eakin, who is director of the Congressional Budget Office and a former chief economist on President Bush's Council of Economic Advisers.

Um, if one cannot "grow" one's way out of this, what is one to do? Could it possibly entail, say, dipping into--oh, I don't know, let's go out on a limb here--the Social Security Fund, or will the strategy to get out from under a $500 billion deficit (yes, that's Billion With a 'B', friends) be to, say, raise taxes? Heavens!

Further expressions of disgust later. Must drink many margaritas right now.