Deficit up, financial accountability down

Two items to consider, two dots for Kerry/Edwards to connect in the campaign. The whitehouse is predicting a record budget deficit for 2004. They have simultaneously revised economic growth and employment up. If this follows the precedent set by Bush in other years, we can expect the administration to quietly revise the deficit upwards when the final numbers come in.

As you consider the idea that the nation's financial health is being progressively put in the hands of foreign creditors, mostly China and Japan, consider also the gross mismanagement with which this adminsistration approaches its business arrangements.

For example, an audit by the inspector general's office of the Coalition Provisional Authority has revealed massive fraud in Iraqi reconstruction contracts.I mean, the CPA didn't even keep records, for pete's sake.

U.S. civilian authorities in Baghdad failed to keep good track of nearly $1 billion in Iraqi money spent for reconstruction projects and can't produce records to show whether they got some services and products they paid for, an audit concludes.

Doesn't that just chap your hide? That's your tax dollar dissapearing into the pocket of a war profiteers because the administration didn't think they would have to secure the peace in Iraq.