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Thursday, July 31, 2008 

The Myth of 'Fiscal Conservatism'

Figures released this week by the Bush administration places this year's federal US budget deficit at a record $482 billion! White House staff tried to spin the grim budget news as "fallout from the economic stimulus package approved by a bipartisan congressional majority in February". Clearly, Bush's $600-per-taxpayer rebate didn't help the economy, in fact, it merely added to the American national debt by costing the Treasury $168 billion, But that amount is minor when compared to the cost of the invasion and ongoing occupation of of Iraq. I can't even find figures that estimate the cost of the Iraq war but be assured that it is hundreds of billions of dollars. Add to these expenditures, the fact that Bush continued to cut business taxes.

The $482 Billion projected deficit figure actually understates the size of the shortfall because it doesn't include a further increase of $80 billion in war costs - the cost of the so called 'Surge'.

The recent mortgage crisis has not helped the overall American economy.

Canadians are also watching the Harper government run a fiscal deficit ... spending more than they are taking in.

The next time someone of Right Wing persuasion tells you that they are a 'Fiscal Conservative' .... laugh in their face! Mock them! Point out to them that when Republicans in the US or Conservatives in Canada get their chubby grubby hands on the public purse, deficits are sure to follow!

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I can't even find figures that estimate the cost of the Iraq war but be assured that it is hundreds of billions of dollars.

Of course, you can't. That's because they aren't part of the national budget.

At whose instigation that is happening is an easy guess: Bush.

Keep the war separate from the national economy and that keeps the people in the dark about the real cost and that's something the successor will have to worry about.
What a legacy!

In the US, the unemployment figures are also specially treated. When you stop getting unemployment benefits, you're no longer part of the unemployment statistics!
Classic "you're not there because I can't see you" thinking.

Now since Bush is doing with with the war costs, then what's Flaherty up to these days, hmmmmm?

There are several Flaherty stories from his Ontario days. But they're for another time.

Wow! Your info further illustrates my point that fiscal conservatism IS a myth!

This Summer is a downer for me.. first how the democrats fumbled the ball in South.../but that is another story/
The second is the almost unbelievable fact Harper managed to extend this outrageously stupid war in Afghanistan..it is reckless Unwinnable Mission of Nonsense and the Cost is a Huge burden fiscally and humanely and a great way to arm Canada to the teeth as h one Harper's distant goal.
the cost was not in the budget I remember something in a one short sentence as it is about 2% of something... That was it . and no one took any Note Of the dark corner of this
so called "BUDGET,.
Military spending in Billions always cut in sometimes In the middle of times between "BUDGETS" and then nobody follows up how the accounting Goes.. Smoke and Mirrors LIES
The people are just like flocks of sheep controlled by one yapping dog..
I feel ashamed


Brother Leftdog- You have a little bit of one perfectly legitimate point, but you're still way off base. As a confirmed rightwing nutjob, please do not lump us all in with the jackleg Republicans in Congress.

Fiscal conservatism is not a myth. Many of us believe in and actively support such principles. It's just the elected Republican schmucks who don't. But "Republican" and "conservative" are not synonymous. It won't hurt my feelings too bad if this gets them beat - but it would likely be by even (slightly) worse Democrat schmucks.

Also, invoking the Iraq War as if it were the cause of the monster deficits is wrong. For starters, the entire military budget is only something like a quarter of the federal budget - and maintaining a military is THE main job of the US government. This costs money, and you could pick through military spending and come up with lots of legitimate objections - but they're not the main flow of red ink.

You have a perhaps partially legitimate objection to the Iraq business on general policy grounds of all kinds, but the money is the least of the problems. IF the Iraqi situation turns from an ugly dictator fomenting terrorism to a good US ally and beacon of freedom in the Middle East, the fiscal cost will have been a good investment.

Al! Hope you are having a happy healthy summer!

I take it that your point is that it is worth the 'investment' to be rid of Saddam ... hmmm .... you and I are going to have to wait awhile to see if history bears that theory out.

In the meanwhile ... the entire US economy is on shaky ground with the MASSIVE government debt!

Meanwhile Bush keeps cutting business taxes which means that guys like you (my good friend) have to dig into your wallet to pay the interest on debt and eventually the debt itself.

Take care !

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