IRRESPONSIBLE
WHAT A DIFFERENCE A DAY MAKES
From May 17, 2002, until June 27, 2002, the U.S. Treasury was able to hold the national debt $25 million below the debt ceiling. That's 40 days without an increase in borrowing from the public—investors. And annual interest of $57 billion had not yet been paid entitlements like the Social Security Trust Fund and others, nor could the government post more markers for surpluses stolen—the real reason to raise the national debt limit.

On Thursday, June 27, Congress raised the national debt limit $475 billion. More debt for our children to inherit.

By Friday, June 28, one day later, borrowing from investors went up $30.3 billion, entitlement debt went up $76.8 billion, bringing the total national debt increase so far this year to $319 billion with three more months to go.

The Bush administration is heading for one of the largest deficits in history. At this rate, we could easily top $400 billion in the final quarter. You can't write that all off to the war, especially when the President himself tells us Afghanistan is costing us a mere billion per month.

You should also note that politicians and pundits from their press and media will report this as a deficit of $125 billion. They will not mention money stolen from entitlements like Social Security, Medicare and others.

The Enron and Worldcom style excuse for this is as follows. The government defines a deficit as spending exceeding tax receipts. Entitlements are taxes. Therefore, stealing from entitlements does not count.

Isn't that nice? Aren't you glad that the government keeps two sets of books, one for honest borrowing from investors willing to loan the government money, and the other for outright fraud, deception, and theft.

Don't kid yourself folks, the nation is now running a deficit of $319 billion this year to date. Who is going to hold them accountable?