23 February 2009

Harry Reid predicts optimistic future

The clairvoyant Harry Reid has definitively stated that the economy is on the cusp of recovery. “We tend to talk about the negative. ... Things are beginning to turn and I think the American people are going to feel that very soon.” Really? You might to double-check with the Savior-in-Chief about that.

But I'm not worried. After reading this report from the Tax Policy Center, I feel snug as bug in a rug:
In 2009, the federal deficit will be larger as a share of the economy than at any time since the 1940s. After 2009, we project an average deficit of $1 trillion per year for the next 10 years, under optimistic assumptions. The longer-run picture is even bleaker, with a fiscal gap of 7-9 percent of GDP -- between $1 trillion and $1.3 trillion annually in current dollars. Recent trends in credit default swap markets suggest that although fiscal policy problems are usually described as medium- and long-term issues, these problems may be upon us much sooner than previously expected.
Reid went on to say that "We're [Democrats] betting on success." Awesome. They're betting on success? Yeah, that's what I want. A government that gambles with the economic future of America. Yup. Everything's going to be just fine.

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