Economic Indicator - 2 Teaspoons Baking Powder

From Atrios - every time you think Dick Cheney has destroyed all credibility, selling it off to the highest bidder, he throws into the pot that last extra pinch.

A recent favorite Dick Cheney “stretcher” is this one from Iowa:

“But having taken those steps that we believe got the economy back on the right track and have seen us through the recession, we’ve begun to see the resumption now of economic growth in fairly significant ways. And it’s beginning to help reduce the deficit. But the keys to reducing the deficit really is twofold — on the one hand, spending restraint, which we need to pursue with respect to the federal budget; but also stimulating enough economic growth so that we generate enough revenue so we begin to close the deficit. Some may have noticed just within the last day here, the Congressional Budget Office has now announced new estimates for the federal deficit going forward. And they have reduced their estimate for the deficit by — I believe about $56 billion for the year we’re now in. That’s a direct result of economic growth that came about as a result of the tax changes that the President put through, and the Congress supported.

Of course he didn’t expect anyone to have heard the news a few hours earlier: “Hours before Cheney spoke, the Congressional Budget Office said this year’s federal deficit will hit a record $422 billion.”

I know, I know, it’s a record, but less of a record than they were expecting. Time to break out the Champaign for jobless well done!

Post a Comment

Your email is never published nor shared. Required fields are marked *