It's Alright, Ma, We're Only Bleeding…

The response of the Bush administration's budget director to questions about the cost of war with Iraq? "Dunno". (Other estimates range from $60 billion to $200 billion.)

What about federal deficits, not counting the Iraq stuff? Like Socrates, Mitch Daniels is only certain that he doesn't know how big the figure will be, or how long the red ink will spill. His best guesses? $200 billion to $300 billion this year and next, and for the "foreseeable future".

But not to worry. Since this is Republican administration, such shortfalls are currently "modest" and "manageable," and will remain so–for the foreseeable future. Why isn't that at all reassuring?