A report commissioned by the Bush Treasury Department is left out of the budget, claims the Financial Times. Hmmm. Money quote:
The study’s analysis of future deficits dwarfs previous estimates of the financial challenge facing Washington. It is roughly equivalent to 10 times the publicly held national debt, four years of US economic output or more than 94 per cent of all US household assets. Alan Greenspan, Federal Reserve chairman, last week bemoaned what he called Washington’s “deafening” silence about the future crunch.
With each Bush budget, the fiscal future of this country – including its ability to fight necessary wars – is being gutted. Why are there so few conservative voices protesting? John Scalzi throws in his two cents.
The Dish 