This is what you call "fiscal responsibility" in Republicanland:
Deficits under the Presidentâ€™s budget would total 2.1 trillion over the 10 years from 2007 through 2016 â€“ 1.4 trillion higher than under current law, as projected by the CBOâ€™s baseline.
Under current tax and spending laws, deficits would be followed by small surpluses beginning in 2012, CBO projects; under the Presidentâ€™s policies, by contract, deficits would continue throughout the 2007-2016 period. Over those 10 years, the Presidentâ€™s proposals would reduce revenues by more than 1.7 trillion from baseline levels, CBO and JCT (Joint Committee on Taxation) estimate, mainly by extending tax provisions that are scheduled to expire by 2011.From the Congressional Budget Office (.pdf)
In other words, this is the kind of burden Bush's budget will be doing to us for years after he's left office and gone back to playing pretend-cowboy taking a chainsaw to scrubby oak.
Gotta love how the Republicans love credit -- especially when it's the rest of us who have to pay it all back.
More on this from Sterling Newberry at The Blogging of the President.