Battlepanda: Smarter flunkeys please


Always trying to figure things out with the minimum of bullshit and the maximum of belligerence.

Sunday, December 04, 2005

Smarter flunkeys please

"Al" is Allan Hubbard, one of Bush's top economic advisors. Surely he knows that we have a national debt, but he hasn't been keeping track of its size lately...
Q Al, can I ask you one? I can't remember the last time the President spoke about the national debt, which is now over $8 trillion. Is that something you guys worry about?

DIRECTOR HUBBARD: Well, I don't know where your $8 trillion comes from, but we --

Q The public website.

DIRECTOR HUBBARD: Well, I guess it really depends on what you're including, but let me -- again, the President is most concerned about the economy and the budget. And a key component of that, as I have spoken earlier, is the budget deficit. And, you know, that's what contributes to the overall budget debt, the country's debt, and that's why it's so important to reduce the budget deficit and, hopefully, ultimately, eliminate the budget deficit.

Q Does the magnitude of the national debt disturb you?

DIRECTOR HUBBARD: Actually, again, I don't know what numbers you're using, but the current budget debt is not a problem, but we do not want it to grow as a percentage of the GDP. That's the way you want to look at it, is the debt as a percentage of GDP. And our budget debt is lower than many other developed countries. The President is committed to keeping it low; that's why he wants to cut the budget deficit in half by 2009. . . . .

Q Check the Bureau of Public Debt website, you'll see the number there.

DIRECTOR HUBBARD: Okay, thank you.

Do you want the URL for that, Director Hubbard?