It’s January, named after the Roman deity Janus (the god of time), and I thought I would take this opportunity (much like I did in 2011 here and here) and move back the hands of time and engage in some veridictions, my name for the process of verifying predictions. I firmly believe that the talking heads that dominate the television would be less willing to spout off on what will or won’t happen if some organization took the time to track what they said and see if they were full of it.
I am accepting donations to start such a group.
This year’s initial veridiction focuses on the previous occupant of the White House, George W. Bush and a prediction he made on January 3, 2007. On that day, he opined…
By continuing these policies [the tax cuts], we can balance the federal budget by 2012 while funding our priorities and making the tax cuts permanent.
So here we are in MMXII and the federal deficit for the previous fiscal year chimed in at $1.3 trillion.
That would be $1,300,000,000,000 and some change.
As the Bush-era tax cuts were continued through the Bush administration and extended during the Obama administration, Bush’s policies were indeed continued and the federal budget was not balanced.
Prediction not accomplished.