A billion here, a billion there, and pretty soon you’re talking real money.

With all of the talk of big numbers in the budget and the bailout, it can be tough to maintain a sense of scale. Though the difference between a thousand and a million is very clear to me, the difference between a billion and a trillion is tough to grasp. Here’s an illustration of the […]

White House finds Bush’s hidden $2.7T deficit.

President Obama has eliminated the stupid accounting tricks by the Bush administration and found the nation to be $2.7 trilliion more in debt over the next decade, Jackie Calmes writes in the New York Times. A Republican trashes the budget and leaves a Democrat to clean up the mess…shades of Jim Gilmore?

Promises gone by: a Bush budget retrospective.

There’s bad news on the economic front: Bush’s budget deficit will hit the half-trillion dollar mark next year, which is precisely the opposite of what President Bush has been promising since he first sought the office. Let’s take a look back at each year’s budget news since 2000, the year before President Bush took office. […]

A challenge to Virginia Republicans regarding Gilmore.

A standard talking point among supporters of Gov. Jim Gilmore’s candidacy for U.S. Senate is that he left the state economy in great shape, but Gov. Mark Warner went ahead and hiked taxes anyway. They say it’s a myth that Gilmore fudged the budget numbers. In my world, this is an up-is-down, black-is-white claim. It’s […]

The cost of infrastructure is infinite.

Here’s a thought that hit me recently: In the long run, the cost of building infrastructure approaches free, while the cost of maintaining it is infinite. Roads are a prime example. Since the advent of paved roads maintained by the state and federal governments, roads haven’t gone away. Virginia never says “Hey, listen, this four […]