| Giving a tax cut is not a great accomplishment. Balancing the budget so you CAN give a tax cut is a great accomplishment. |
| Clinton earned the 2000 tax cuts, Bush just handed them out.
Bush bragged at the time that he was only the third President in recent history to give a tax cut (after Kennedy and Reagan). He didn't see the need to reflect how rare a balanced budget was in the same period. We hope Congress will realize that extending the tax cuts would be an act of political cowardice, not courage. The country is already deep in debt, and the tax cuts are largely to blame. In the next two weeks, the administration expects to hit the nation's legal debt limit — $8,184,000,000,000 — and has told Congress it needs to vote to raise the debt ceiling to nearly $9 trillion, a 51 percent increase since 2001, when Mr. Bush took office. Congress must raise the limit or the government will default. But Congressional leaders are looking for ways to downplay the vote, precisely because it's a disgrace. Source: "Tax Talk Goes Orwellian" - NY Times - 2/4/06 President Bush's budget would increase the federal deficit by $35 billion this year and by more than $1.2 trillion over the next decade, the Congressional Budget Office reported on Friday. The nonpartisan budget office said that Mr. Bush's tax-cutting proposals would cost about $1.7 trillion over the next 10 years and that his proposals to partly privatize Social Security would cost about $312 billion during that period. Source: "Bush Plan Would Raise Deficit by $1.2 Trillion, Budget Office Says" By EDMUND L. ANDREWS - NY Times - March 4, 2006 |
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