THE 2010 TIME BOMB….In the Washington Post today, Jonathan Weisman and Peter Baker note that the latest George Bush budget is a “budgetary landmine that could blow up just as the next president moves into the Oval Office.”
Indeed it is. Despite heroic efforts such as limiting forecasts to five years instead of the traditional ten, it’s painfully obvious to anybody with a pulse that Bush’s policies explode into massive deficits starting right around….2010.
That’s not a coincidence, either: George Bush has shown considerable fondness for policies that have big benefits while he’s in office but whose costs don’t become clear until he’s safely retired to Crawford. More here.