Going the wrong way ... really fast. That's kind of how I felt looking at the impact of the fed budget on the land of 5-Oh
Are federal deficits really irrelevant? ... I guess we'll find out. The new national budget will add $300 billion to the deficit.
Is the war free (or perhaps low-cost somehow)? The budget lacks assumptions about the cost of the war in Iraq beyond 2007, leaving costs to be addressed by "supplemental appropriations" which masks the fiscal impact of the war on the U.S. national debt.
In other words, it's like you have a big credit card debt ... but once a year, your parent gives you a huge chunk of money, that you couldn't possibly pay out of your current salary ... and you use it to pay your debt down ... the impact of your full debt (or even better of your actions) seems less because you got money on the side
Other impacts on Hawaii:
- If the El Busho tax cuts are made permanent, Hawaii's wealthiest 1% would each get $9,684 in tax breaks, while middle income families get $54 ... what are you doing with your one tank of gas?
- Social Security privatization and cuts for current Social Security death benefits;
- $22 million less for children with disabilities in Hawaii than was promised for the program;
- Funding cuts of $1.5 million for Clean Water loan funds which help improve wastewater treatment -- less money, more doodoo at the beach?
- $2.1 million in cuts for Hawaii Social Services Block Grant funding, which helps disadvantaged people in Hawaii achieve self sufficiency;
- Eliminated almost $14 million for job training and employment services in Hawaii; and
- Eliminated almost $6 million in vocational education funding in Hawaii.
Global warming can't happen soon enough ... at this rate