The Economist is running an article discussing the U.S. Federal deficit and currency markets. It contains this wonderful quote:

Mr Bush, for his part, has an election to fight — and fiscal austerity wins few votes. On the contrary, he will claim that his tax cuts have delivered growth and jobs. They have certainly delivered some of the first, but not much of the second. The economy needs to create more than 140,000 jobs per month just to keep pace with the growth of the labour force. Last month, firms added 112,000 workers to the payrolls; in December, they added just 16,000. This is a poor return on tax cuts that cost the Treasury $195 billion in the 2003 fiscal year. For that money, Mr Bush could have hired 2.5m people to dig holes and another 2.5m to fill them, paying them all America’s average annual wage.