Words to the wise, and the not so

"I, however, place economy among the first and most important of republican virtues and public debt as the greatest of dangers to be feared."

Thomas Jefferson to William Plumer, July 21, 1816

One of many reasons, if you are registered Republican, to leave the party, and join the party of fiscal responsibility.

Analysts Call Outlook for Bush Plan Bleak. Too much deficit. Not enough revenue.

"It doesn't seem like we're going to see any tightness in U.S. budget policy anytime soon," said Rebecca Patterson, senior currency strategist at Wall Street giant JPMorgan Chase.

Under Bush's plan for spending and taxes, the deficit would be $258 billion in 2009. If anything, that may understate the size of the deficit in coming years because it does not include any additional costs for the wars in Iraq and Afghanistan. The Pentagon is expected to seek an additional $70 billion early next year.