What's George W. Bush's solution to our runaway deficit, and the financial woes it's caused?
Why, it's the very same act of irresponsible desperation that destroys the lives of ordinary people who are overburdened by credit-card debt: A higher borrowing limit!
Democrats accused Republicans of disastrous economic policies on Thursday as Congress moved toward shipping President Bush an $800 billion increase in the federal borrowing limit.
With the government facing imminent default if the tapped-out debt ceiling is not increased, the bill would pump up the government's borrowing cap to $8.18 trillion. That is 70 percent the size of the entire U.S. economy....
Got that? Bush is leading us towards a level of debt that is equal to 70 percent of the U.S. economy. And here's how he's keeping our sinking ship afloat in the meantime:
The government reached the current $7.38 trillion cap last month, paying its bills since with investments from a civil service retirement account, which it plans to repay.
I fearlessly predict that investments from this civil service retirement account will be repaid no more than 1,000 years after Bush appoints a homosexual Satanist to his cabinet.
Actually, let me rephrase that to reflect Republican moral values a bit more accurately. They'll be repaid no more than 1,000 years after Bush appoints an openly homosexual Satanist to his cabinet.