by Calculated Risk on 7/24/2005 10:13:00 PM

On Angry Bear I discuss a tale of two governors and the danger of premature fiscal celebrating. We should also consider the recent premature celebration by the Bush Administration.


Click on graph for larger image.

This graph shows the Year to Date (July 21st) and full fiscal year increase in the National Debt for 2001 through 2005.

The graph shows that for YTD fiscal 2005 (Oct 1, 2004 - July 21, 2005), the National Debt has increased $489.6 Billion. This is almost the same as for the equivalent period for the previous two years. Last year for the same period was $494.5 Billion.

Not exactly cause for celebration.

I will stick to my earlier prediction that the National Debt will increase more in Fiscal 2005 than in Fiscal 2004. It will probably be close, but this is far from the claims of the Bush Administration. Of course the Bush Administration isn't talking about reductions in the increase in the debt, they are discussing improvements in "forecasts" for the Enron style "Unified Budget".