BBC NEWS | Business | US budget deficit to reach $368bn
Here's a news story that I find somewhat amusing and sad at the same time. The U.S. budget is still extremely in the red excluding the "war" in Iraq. On one hand it is amusing because the country had a surplus when President Bush began his first term. On the other hand it is sad because the American people has reaffirmed the president's policies by re-electing the him.

The U.S. had a record surplus at the end of the Clinton administration. This surplus was quickly depleted by the Bush administration. Everyone acknowledges that the events of 9/11 have had an effect on the U.S. that could not be avoided. I will lump to financial efffects into the cost of the "war" in Iraq. If these costs are excluded, the country is still in the red. The most amusing aspect of the whole thing is the President Bush is promising to reduce the deficit by half. Looking a little deeper into this promise one would find budgeting for years in which President Bush will no longer be president. Being a total political outsider, I would advise a rather simplistic approach. If things were working before changes were made, then just return to the state prior to changes. I realize that this is a rather simplistic view but it does convey an idea to keep in mind.

The sad aspect of the deficit is that President Bush will be starting his second term. That means the American people have re-elected him, thus approving of his policies. At least the majority of the people re-elected him. The president's general approval rating is right around 50%. Like it or not, that is democracy at work. I wouldn't have it any other way...
- posted by Unknown @ 3:28 PM