Democrats and other critics said the president had no right to brag about a deficit that remains so large in the fifth year of an economic expansion. They pointed out that the deficit this year will be the fourth-largest ever, and that Bush inherited a surplus when he took office in 2001.
“Only Washington Republicans would think a 0 billion deficit is good news,” Senate Minority Leader Harry M. Reid (D-Nev.) said in a written statement.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, a bipartisan group, said the new figures are “nothing to break open the champagne over.”
“We have experienced a neck-wrenching swing from large surpluses to large deficits since the start of the decade,” MacGuineas said.
Found this while reading IOZ posts from 2006. Looking to the recent past confirms one of Monsieur IOZ’s more recent points about the current campaign of union-busting: management punishing labor for the mistakes of management. 0 billion in the whole during a strong economy. I mean, who taught these people how to count?
(I guess I shouldn’t play dumb. ‘These people’ count votes and campaign contributions, and poorly managing the government’s finances does not impact these dependent variables in what would be called a linear fashion.)