Sunday, February 25, 2007

George W, CEO

Bush said he would run the government like a businessman. Well, it looks like he was telling the truth. Unfortunately, he's running it like he's run other businesses.
Fiscal Responsibility
George W. Bush took over as CEO of USA Inc. when the country was running substantial surpluses, rapidly paying off its debt, and moving toward a future with a balanced budget. Forecasts predicted the country would continue to grow and be debt free in the near future. Bush took charge, and the opposite occurred: the country is running record deficits; debt service is skyrocketing. Bush's most recent economic forecast (arguably optimistic) predicts a balanced budget by 2012 (contingent on the wars in Iraq and Afghanistan not costing the United States a dime after 2009), which is, ironically, when he will no longer be in office. The trade deficit with USA Inc.'s No. 1 competitor, China, is increasing. Interestingly, a characteristic of many failing CEOs when losses are mounting is to hide or obfuscate the real deficits. This president, in addition to incurring massive deficits, has managed to hide the magnitude of the losses by special (otherwise known as "off balance sheet") allocations of billions of dollars that do not appear in the annual budget.

Found at Brilliant at Breakfast.

Labels: ,

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home