Friday, May 20, 2005
Novakula crawls out of his crypt to haunt the Crossfire set once again.
What He Said: You know, James [Carville], of all the lousy issues you have, the lousiest is the debt. As Ronald Reagan once said, I don't worry about the national debt; it's big enough to take care of itself. As a matter of fact, it is smaller as a percentage of GDP than any of our other -- than it has ever been. This is a phony issue. That's not hurting us.
The Truth: In 1929 the national debt was 16.3% of the GDP. In 1981, it was 32.9%. In 2004, the $7.4 trillion national debt constituted 62.9% of the GDP.
What He Meant: Of all the crap we've got to wear around our necks in 2006, this is the one that's going to kill us. Even the professional liars of the GOP are choking as they try to sell themselves as "fiscal conservatives" after blowing through cash like Uday Hussein on a coke jag at Cheetah's.
Note to Howard Dean: I'd flag this one.