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JandP

Friday, February 17, 2006

Bush's money pit

In Monday's NY Times, Paul Krugman started his column with these words:

"Last year America spent 57 percent more than it earned on world markets. That is, our imports were 57 percent larger than our exports. How did we manage to live so far beyond our means? By running up debts to Japan, China and Middle Eastern oil producers. We're as addicted to imported money as we are to imported oil."

Now I have just heard a broadcast report that Bush is already asking Congress for billions more to spend in Iraq and Afghanistan. If his two requests are filled by the end of this year, his warmongering and occupying will have cost almost a half trillion dollars.

Remember when his cronies said the Iraq cost would be perhaps $50 billion? When they said that Iraqi oil earnings would cover costs?

Welcome to the zoo, everybody.