The Congressional Budget Office has confirmed what budget watchers have known for some time: the United States government this year is going to record its largest budget deficit ever.
We are looking at more than $400 billion in red ink this year. Of course, keen budget analysts know that this figure includes the still-large surplus in Social Security payroll tax revenues. Money that theoretically we are supposed to save to help finance the baby boom generation's impending retirement. So you can add another $100 billion or so to that figure to get a real view of our government's deficit spending.
Speaking of irrational, House Budget Committee Chairman Rep. Jim Nussle (R-Iowa) has the gall to blame this on...you guessed it, out-of-control spending!
"The past 21/2 years have put some appropriate demands on our government and on our budget because of some extraordinary circumstances," said Rep. Jim Nussle (R-Iowa), the Budget Committee chairman. "We have enacted sound policies that will grow the economy, but until we recommit to holding the line on government spending, deficits will continue to be an issue."
The talking points are straight from the unreality of the 1980s.
Mr. Chairman, let's take a short stroll through reality. You and your colleagues have worked with President Bush to enact at least two trillion dollars in tax cuts the past two years. Most discretionary spending increases have gone straight to the military -- a budget item Republicans have not been keen on cutting.
A Call to Economic Arms, the campaign book Paul Tsongas presented for his 1992 presidential run, remains one of the most important political works I have read. It is a book -- and Senator Tsongas a man -- who has much to do with my journey away from my youthful support of the GOP.
In that book, Tsongas asked a question of the Reagan/Bush 41 years from the perspective of the younger generations who were being left the burden of a large and growing national debt. A question that unfortunately has relevance to today's political world. He wrote that as these young generations age they will wonder:
How could they lull the American people into accepting such staggering debt without widespread revolt?
More pointedly, they will ask, why did people allow this enormous accumulation of debt which now burdens their generation? This, of course, raises the pointed question of generational morality.
How sad that we must ask these questions must once again. Just 12 years after they were first asked. Just three years after we were promised surpluses as far as the eye could see. Just five years before the first baby boomers can begin receiving early benefit Social Security checks.
Will we continue to allow the Republicans to push the burden of these tax cuts onto our children and grandchildren? Will we continue to accept these generationally immoral policies?