Tuesday, July 18, 2006

John Kline + Bush = MN Red

The fact that Bush and Kline consider a $296 billion deficit an occasion to celebrate shows how far we've fallen. Each Minnnesotan pays $1075.00 of their taxes in interest payments only. Roughly 20% of every dollar we pay goes toward interest on the national debt. Naturally, as interest rates climb, so will the amount paid by us.

When President Bush came into office, he inherited a surplus of $284 Billion. At that time, the Bush administration predicted a $516 billion surplus for 2006. Five years later their legacy of tax cuts for the wealthy and other failed policies has left Minnesotans with a mounting debt to be paid off for generations to come:

2004 (George W. Bush) $413 billion
2003 (George W. Bush) $378 billion
2005 (George W. Bush) $318 billion
2006 (George W. Bush) $296 billion (projected)

The deficit includes no funding for operations in Iraq and Afghanistan after fiscal year 2007, and only $50 billion for that year. So far Minnesotans have paid a large price in dollars (over 7.2 billion) and deaths (over 30). In addition, over 2500 Minnesotan's have been seriously wounded in the war.

The GOP talk about turning Minnesota into a red state. Kline's and Bu$h's tax cuts for the rich, never ending wars and out of control fiscal policies have all hardworking Minnesotans in the red.

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