Reidblog [The Reid Report blog]

Think at your own risk.
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Monday, July 28, 2008
Quick take headlines: hacks, red ink and redrum
A Justice Department report confirms that two former underlings of America's worst Attorney General EVER, Alberto Gonzales, broke the law by taking political persuasion into account in JD hiring. The perps: Regent University "Law School" grad Monica Goodling, and fellow traveler D. Kyle Sampson. Alberto wasn't faulted in the report... why? The only remaining question: how quickly does Michael Mukasey announce that he will do nothing?

Meanwhile, how big of a budget deficit will George W. Bush leave to the next president? Try $490 billion:

The next president will inherit a record budget deficit approaching $490 billion, a Bush administration official said Monday.

The official said the deficit was being driven to an all-time high by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep the country from falling into a deep recession. A deficit approaching $490 billion would easily surpass the record deficit of $413 billion set in 2004.

The administration official spoke on condition of anonymity because the new estimate had not been formally released. Administration officials were scheduled to do that at a news conference later Monday.

The new figure actually underestimates the deficit, since it leaves out about $80 billion in war costs. In a break from tradition — and in violation of new mandates from Congress — the White House did not include its full estimate of war costs.

White House press secretary Dana Perino had no comment on the $490 billion figure. But she told reporters that the White House and lawmakers acknowledged months ago that they were going to increase the deficit by approving a short-term boost for the slumping economy.

"Both parties recognized that the deficit would increase, and that that was going to be the price that we pay," Perino said.

The White House had earlier predicted next year's deficit at $407 billion. Figures for the 2008 budget year ending Sept. 30 may also set a record.

When Dubya took office in 2001, the CBO estimated the U.S. had a ten-year budget surplus of $5.6 trillion. Bush even trumpeted the surplus in a campaign ad back in 2000:

Bush for President, Inc.
"Surplus"

30 sec. TV spot run in NH latter part of Jan. 2000.
Maverick Media

Male Announcer [music]: George W. Bush's tax plan is called an economic agenda worthy of a new president.

The Bush plan reserves $2 trillion of the surplus to protect and strengthen Social Security and pay down the national debt. The rest is dedicated to priorities--education, rebuilding our military, and providing a real tax cut for every taxpayer.

Some Washington politicians say it's better to keep the money in Washington. Governor Bush believes we can meet priorities and still give families back more of what they earn.

Ah, history...

Over to Iraq (a/k/a "Surgistan,") where two apparent female suicide bombers killed more than 50 people and injured some 240 others in Baghdad and Kirkuk. The Guardian puts the death and injured toll even higher, at 55 and 300.



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posted by JReid @ 12:04 PM  


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