White House Boosts Deficit Projections – WSJ.com

White House Boosts Deficit Projections – WSJ.com.

The budget deficit was predicted (by the administration) to be $1.752 trillion for the current fiscal year. How much money is that? It’s $1,752,000,000,000. That’s too large a number to really understand. If you took $1 bills and laid them end to end around the earth, you would wrap around the earth 6,477,130,690 times! That’s about 6.5 billion times. That’s still too large a number to really understand. Using the same end-to-end laying of $1 bills, you could travel to the sun and back 865,700.554 times! What that means is that using $1 bills, we could travel 1,731,401.11 AU (astronomical units). That’s 27.38 light years! These are astronomical amounts.

Of course, my use of the length of the U.S. $1 bill was arbitrary, I could have made any number of other comparisons but the point remains the same; that is a lot of money. And that’s just the projected 1 year budget deficit! Of course, that deficit includes additional bailout money Congress might not approve but even so, we’ll have at least a $1.5 trillion budget deficit with another large one next year (and so on for the forseeable future). I’m not even going to broach the subject of the actual national debt.

I appreciate that Pres. Obama and Congress are trying to address the weak economy and the budget shortfalls but right now Pres. Obama seems too much like Pres. Lyndon Johnson trying to escalate the Vietnam War while pushing for his Great Society; it was more than he could handle so he wasn’t particularly successful at either. I’m not saying all of the Great Society programs were bad – many were good – but he was not able to focus on both social and military programs at the same time. He should have done one or the other, not both. Pres. Obama, like LBJ, is trying to do everything. I think he’s more capable than LBJ was but Pres. Obama is not only trying to “fix” the economy, he is trying to create his own Great Society while fighting the War on Terrorism (including two ongoing campaigns – Iraq and Afghanistan). I recognize that Pres. Obama was thrown some flaming torches and asked to juggle them but instead of letting some fall and go out, he decided to keep juggling them all while asking for more.

I applaude that Pres. Obama did not implement his original plan to start taking troops out of Iraq immediately, at least he listened to his military leaders and implemented what is essentially Pres. Bush’s withdrawal plan (although Pres. Bush did not like that word). I think some bailouts were probably necessary, although they should have been much smaller than were approved, but much of Pres. Obama’s “stimulus” or other budgetary monies are going towards social programs at a time when we cannot afford them. Increaing Pell Grants is a nice idea (I know many other conservatives disagree) and as a researcher, I always appreciate having more money available for reserach grants, but this money is borrowed money. It’s not real; we are borrowing against the future for things we cannot afford now. Fix the budget first, then try to work on social programs. We need to cut spending, not increase it.

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