drunken sailors

read a great quote from Thomas Sowell recently:

When Ronald Reagan said that the government was spending money like a drunken sailor, he apologized to the sailors, who were after all spending their own money.

which seems all the more relevant today, given the laughable recent comments from house (Republican) majority leader Tom DeLay:

House Majority Leader Tom DeLay said yesterday that Republicans have done so well in cutting spending that he declared an "ongoing victory," and said there is simply no fat left to cut in the federal budget.

Mr. DeLay was defending Republicans' choice to borrow money and add to this year's expected $331 billion deficit to pay for Hurricane Katrina relief. Some Republicans have said Congress should make cuts in other areas, but Mr. DeLay said that doesn't seem possible.

"My answer to those that want to offset the spending is sure, bring me the offsets, I'll be glad to do it. But nobody has been able to come up with any yet," the Texas Republican told reporters at his weekly briefing.

Asked if that meant the government was running at peak efficiency, Mr. DeLay said, "Yes, after 11 years of Republican majority we've pared it down pretty good."

so that's the take of the leadership of those empowered to spend our money. what's the President's take on such spending? check out this strong statement:

Our president is very generous with other people's money. Worse, he is generous with the money of people who are in no position to object, either because they are too young or because they haven't been born yet.

so, is it true? the author goes on:

Heritage Foundation budget analyst Brian Riedl estimates the federal deficit, which was projected to be $331 billion this year before Katrina hit, will rise to $500 billion in 2008 and $873 billion in 2015, largely due to hurricane relief and reconstruction, together with spending in Iraq and Afghanistan. Riedl cautions that "even these estimates could prove overly optimistic."

Without serious spending cuts, Bush's promise of no tax hikes is a fraud. Taxes will go up, since ultimately that's the only way to finance federal spending. It's just a question of when.

Either the burden will be imposed on current taxpayers (and the repercussions felt by current politicians), or it will be dumped on our children and grandchildren.

and people wonder why i am loathe to term myself a Republican?