A billion here, a billion there

September 29, 2007 | By | 3 Replies More

This week, President Bush has said he will veto the proposed funding bill for child healthcare, known as “S-CHIP” legislation.  He claims the bill, which could cost as much as $50 billion (above the current baseline) over the next five years, is too expensive.  Meanwhile, despite overwhelming public opposition, Bush is also calling for another $200 billion to fund his occupation in Iraq, nevermind the fact that his unnecessary invasion of that country has already wasted at least $25 billion of taxpayer dollars in fraud and mismanagement

So, add lost childhood healthcare improvements to the long list of lost opportunity costs associated with Bush’s idiotic decision to invade Iraq.  While you’re at it, add the stunning devaluation of U.S. currency over the past five years — a less visible, but very real, cost of runaway Republican spending:  for example, see here, here, here and here.

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About the Author ()

Grumpypilgrim is a writer and management consultant living in Madison, WI. He has several scientific degrees, including a recent master’s degree from MIT. He has also held several professional career positions, none of which has been in a field in which he ever took a university course. Grumps is an avid cyclist and, for many years now, has traveled more annual miles by bicycle than by car…and he wishes more people (for the health of both themselves and our planet) would do the same. Grumps is an enthusiastic advocate of life-long learning, healthy living and political awareness. He is single, and provides a loving home for abused and abandoned bicycles. Grumpy’s email: grumpypilgrim(AT)@gmail(DOT).com [Erich’s note: Grumpy asked that his email be encrypted this way to deter spam. If you want to write to him, drop out the parentheticals in the above address].

Comments (3)

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  1. Erich Vieth says:

    I had to look several times at that Yahoo chart showing the dollar's devaluation to believe what I was seeing. That should be a front page headline, that we are well on our way to becoming a second rate country thanks to the crooks who are running the government and the corporate media that strives to keep us in the dark.

  2. Dan Klarmann says:

    The 5 year dollar doesn't look so bad compared to the Yen. However, the Yen nearly crashed a few years ago. The Dollar has since followed suit.

    Those "borrow and spend" conservatives still will give "tax and spend" (or "pay for what you get") liberal folks a run for their denigration.

  3. grumpypilgrim says:

    Believe what you see on those charts. Massive, irresponsible deficit spending by Republicans has caused the dollar's value to plunge. The effect is similar to what happens when an individual runs up a huge personal debt: his credit rating drops, creditors demand higher interest rates, and it becomes costlier for him to borrow more money. Devaluation of the dollar does the same thing: makes it costlier for America to borrow.

    In part because of such irresponsible behavior in America, some finance experts already predict the American dollar will eventually not be the dominant international currency. They expect the euro to dominate western Europe (displacing both the British pound and U.S. dollar) and the Chinese yuan to dominate Asia (displacing the Japanese yen).

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