corrente

The Onion, of course:

WASHINGTON, DC—In light of recent budget concerns, President and Mrs. Bush attempted to take out a third mortgage on the White House Monday, but were denied. "Unfortunately, we're unable to serve the president's needs at this time," Washington Mutual loan officer Judy Schamanski told reporters. "Within the next 30 days, Mr. Bush will receive an adverse-action notice in the mail, which will outline the specific reasons for the denial. But, for starters, I would suggest that he get current on his second mortgage before he even considers a third." Schamanski added that Bush is more than welcome to reapply in the future, should his credit profile improve.

Then again, humor is one thing, and analysis is another. Paul Krugman, of course:

How, then, can the government pay for Medicare and Medicaid — which didn't exist in the 1950's — and Social Security, which will become far more expensive as the population ages? (Defense spending has fallen compared with the economy, but not that much, and it's on the rise again.)

The answer is that it can't. The government can borrow to make up the difference as long as investors remain in denial, unable to believe that the world's only superpower is turning into a banana republic. But at some point bond markets will balk — they won't lend money to a government, even that of the United States, if that government's debt is growing faster than its revenues and there is no plausible story about how the budget will eventually come under control.

At that point, either taxes will go up again, or programs that have become fundamental to the American way of life will be gutted. We can be sure that the right will do whatever it takes to preserve the Bush tax cuts — right now the administration is even skimping on homeland security to save a few dollars here and there. But balancing the books without tax increases will require deep cuts where the money is: that is, in Medicaid, Medicare and Social Security.

The Booblicans can handle money, alright... Right out of your pocket into theirs.