[lbo-talk] what? me worry?

[Robert D. Day]

It seems as though Bush's adventures are not being financed at all -- 
hence federal budget deficits and crippling state budget crises. Is 
there a level of abstraction I'm missing here?

-- Robert

==========

On Mar 13, 2005, at 3:53 PM, Doug Henwood wrote:

[The more I read stuff like this the more I think the bubble didn't 
really burst in 2000.]

New York Times Magazine - March 13, 2005

THE WAY WE LIVE NOW
Our Currency, Your Problem
By NIALL FERGUSON

[snip] Let's translate that into political terms. In effect, the Bush 
administration's combination of tax cuts for the Republican ''base'' 
and a Global War on Terror is being financed with a multibillion dollar 
overdraft facility at the People's Bank of China. [snip]