Pants On Fire
In the coverage of President Bush's proposed $2.77 trillion budget this morning, reporters are making no bones about the fact that it bears little relationship to reality.
For one, the budget is based on absurd assumptions and intentional oversights. For another, few if any of its most controversial provisions have any realistic chance of survival.
Naturally, it completely omits the cost of the war.
Edmund L Andrews in the NYT says:
"But in practice, the budget is much less realistic than it appears because it omits nearly a half-trillion dollars in costs that are likely to be incurred over the next five years.There is plenty more in Dan's post.
"The omissions include any costs for the war in Iraq after 2007, any additional reconstruction costs for New Orleans after 2006 and any plan for preventing a huge expansion in the alternative minimum tax after the end of this year."