Thursday | January 16, 2003
So much for pretending otherwise
Well, it was fun while it lasted. Bush isn't even pretending anymore. The whole, "tax cuts increase revenues" tack is dead, as his people are admitting that we are going to see deficits for a long, long time.
The president's 2004 budget proposal, due early next month, forecasts annual deficits throughout the next decade, Daniels said. "We ought not hyperventilate this issue," he stressed. He called the deficits, which will range from $200 billion to $300 billion in each of the next two years, "historically modest" and said they did not include the cost of any military conflict in Iraq."Historically modest". I love that spin. According to this government chart, budget deficits of that magnitude are nowhere near being "modest", and in fact, are representative of the worst excesses of US fiscal policy.
But I think we're all aware of Bush's real motivation, and it's not to prevent deficits. It's nothing short of the complete emasculation of our present form of government:
Our administration is concerned about deficits, and the way they deal with deficits is you want to control spending. And I hope Congress lives up to their words. When they talk about deficits, they can join us in making sure we don't overspend. They can join us and make sure that the appropriations process is focused on those issues that -- those items that are absolutely necessary to the American people.Posted January 16, 2003 12:26 PM | Comments (63)