more economic headlines... little comment

Gas prices jump, oil hits $110

Federal budget deficit swells to $263.3B

Does anyone remember the discussion in 2000? Gentle reminder: What to do with the budget surplus!

More pain expected before credit market recovery

Meanwhile, back at the ranch (from Think Progress):

Bush: People Will ‘Look Back’ At ‘This Moment In Economic History’ And Say ‘Tax Cuts Work’
I'll not rely on Think Progress. Here's the quotation from the White House transcript:

I think when people take a look back at this moment in our economic history, they'll recognize tax cuts work. They have made a difference.

Record deficits, economy going down the tubes... ah, yes: tax cuts work.

Stop the madness!