Recently in Government Budgets Category

Atrios is right. Sigh.

And if you haven't read Charlie Pierce's Idiot America yet, which expands on how dangerous this celebration of ignorance is, you should.

The national debt is now rising by $1 million a day. Heck of a job, Mr. President.

Federal budget analyst Stan Collender has found one group of people who will benefit from the federal budget mismanagement of the past six years: bond traders. After all, there's going to be a glut of federal debt to trade for the foreseeable future.

In the midst of making this point, Collender also notes yet another instance of the Bush Administration making decisions that may look nice in the short term, but will have expensive long-term consequences:

Fourth, because so much of the close to $3 trillion that will be borrowed during the Bush administration has been short-term debt, the amount that will have to be refinanced each year will be substantially greater than has typically been the case in the past. Even though it was in a position to lock in relatively low rates for years, the White House chose to ride the yield curve with shorter-term debt that cost less while George W. Bush was in office. As a result, the next president and Congress will suffer; the bond market will benefit.

Way to go, Mr. President.