Wednesday, March 21, 2007

Congress Schedules Recession

For 2010, if not earlier. Fueled largely by throwing away budget restraint, as well as raising taxes. One suspects that the sub-prime mortgage issue (and I’d still be worried about accounting shenanigans at Fannie Mae if I were you) is only one contributor – the other being the beginnings of a suspicion by Wall Street that the Democrats, are, well, Democrats.

“The Senate Budget plan would give such programs an $18 billion increase, about 4 percent. At the urging of Rep. David Obey, D-Wis., House Budget Committee Democrats were poised to award domestic agencies with a $23 billion increase.

Democrats opted to put off politically painful decisions on shoring up the finances of Medicare and Social Security.”

I know I’m surprised.