He said he would cut the deficit in half by 2010... but didn't say how... by making his tax cuts for the wealthy permanent?
actually, it was by using revised numbers (whether accurate or not is another story) of the economy as it recovers, as well as the fact that we're unlikely to be spending money in Iraq at the same rate over the next four years. (which the initial estimate included)
however, that does assume that the tax cuts end at their sunset provision date. if they don't, then there's no deficit change. it stays at the current projected level, but would be less than the one used by the Dem. party which is significantly larger still.
i understand that looking to the future is always a good idea when budgeting, but to really expect to get an accurate understanding of what the future budget will be like by straight guesswork is kind of stupid. these numbers aren't written in stone, but should serve as a decent warning about really stupid spending trends.
A crowd of hundreds at the Office Depot Center in Sunrise applauded wildly when Clinton said cutting taxes ''for people like me'' and spending on a deficit ``makes no sense.''
He said ''it feels good'' to do those things, and paused to demonstrate his now classic punch line mannerism -- the bowed head, the pursed lips, the aw-shucks exhale. ``But it doesn't last.''
Clinton added, 'People ask me what great new ideas did you bring to Washington. I say, `Arithmetic.' ''
Again, he paused. ``You know, when practical people find themselves in a hole, they stop digging.''
A crowd of hundreds at the Office Depot Center in Sunrise applauded wildly when Clinton said cutting taxes ''for people like me'' and spending on a deficit ``makes no sense.''
He said ''it feels good'' to do those things, and paused to demonstrate his now classic punch line mannerism -- the bowed head, the pursed lips, the aw-shucks exhale. ``But it doesn't last.''
Clinton added, 'People ask me what great new ideas did you bring to Washington. I say, `Arithmetic.' ''
Again, he paused. ``You know, when practical people find themselves in a hole, they stop digging.''
Heh. He said much the same thing at the Harkin steak fry a while back. I imagine that if he has his way (as savant advisor to the DLC), we'll hear more of this line of argument.
Even conservatives are starting to admit that George Bush isn't serious when he claims to be doing something about the exploding budget deficit. At best ? to borrow the already classic language of the State of the Union address ? his administration is engaged in deficit reduction-related program activities.
But these admissions have been accompanied by an urban legend about what went wrong. According to cleverly misleading reports from the Heritage Foundation and other like-minded sources, the deficit is growing because Mr. Bush isn't sufficiently conservative: he's allowing runaway growth in domestic spending. This myth is intended to divert attention from the real culprit: sharply reduced tax collections, mainly from corporations and the wealthy.
Is domestic spending really exploding? Think about it: farm subsidies aside, which domestic programs have received lavish budget increases over the last three years? Education? Don't be silly: No Child Left Behind is rapidly turning into a sick joke.
In fact, many government agencies are severely underfinanced. For example, last month the head of the National Park Service's police admitted to reporters that her force faced serious budget and staff shortages, and was promptly suspended.
Comments
I was just conveying what I read on Sunday.
Bush got no lift from the SOTU because he talked about the war in iraq and steroids... and mapped out nothing to create jobs and help the economy.
He said he would cut the deficit in half by 2010... but didn't say how... by making his tax cuts for the wealthy permanent?
He said he would cut the deficit in half by 2010... but didn't say how... by making his tax cuts for the wealthy permanent?
actually, it was by using revised numbers (whether accurate or not is another story) of the economy as it recovers, as well as the fact that we're unlikely to be spending money in Iraq at the same rate over the next four years. (which the initial estimate included)
however, that does assume that the tax cuts end at their sunset provision date. if they don't, then there's no deficit change. it stays at the current projected level, but would be less than the one used by the Dem. party which is significantly larger still.
i understand that looking to the future is always a good idea when budgeting, but to really expect to get an accurate understanding of what the future budget will be like by straight guesswork is kind of stupid. these numbers aren't written in stone, but should serve as a decent warning about really stupid spending trends.
A crowd of hundreds at the Office Depot Center in Sunrise applauded wildly when Clinton said cutting taxes ''for people like me'' and spending on a deficit ``makes no sense.''
He said ''it feels good'' to do those things, and paused to demonstrate his now classic punch line mannerism -- the bowed head, the pursed lips, the aw-shucks exhale. ``But it doesn't last.''
Clinton added, 'People ask me what great new ideas did you bring to Washington. I say, `Arithmetic.' ''
Again, he paused. ``You know, when practical people find themselves in a hole, they stop digging.''
Originally posted by chu_bakka
hehe... from the Miami Herald.
A crowd of hundreds at the Office Depot Center in Sunrise applauded wildly when Clinton said cutting taxes ''for people like me'' and spending on a deficit ``makes no sense.''
He said ''it feels good'' to do those things, and paused to demonstrate his now classic punch line mannerism -- the bowed head, the pursed lips, the aw-shucks exhale. ``But it doesn't last.''
Clinton added, 'People ask me what great new ideas did you bring to Washington. I say, `Arithmetic.' ''
Again, he paused. ``You know, when practical people find themselves in a hole, they stop digging.''
Heh. He said much the same thing at the Harkin steak fry a while back. I imagine that if he has his way (as savant advisor to the DLC), we'll hear more of this line of argument.
Originally posted by SDW2001
Dude, you're a real piece of work.
Like it or not this will weigh heavily on the next election.
Red Ink Realities
By PAUL KRUGMAN
Published: January 27, 2004
Even conservatives are starting to admit that George Bush isn't serious when he claims to be doing something about the exploding budget deficit. At best ? to borrow the already classic language of the State of the Union address ? his administration is engaged in deficit reduction-related program activities.
But these admissions have been accompanied by an urban legend about what went wrong. According to cleverly misleading reports from the Heritage Foundation and other like-minded sources, the deficit is growing because Mr. Bush isn't sufficiently conservative: he's allowing runaway growth in domestic spending. This myth is intended to divert attention from the real culprit: sharply reduced tax collections, mainly from corporations and the wealthy.
Is domestic spending really exploding? Think about it: farm subsidies aside, which domestic programs have received lavish budget increases over the last three years? Education? Don't be silly: No Child Left Behind is rapidly turning into a sick joke.
In fact, many government agencies are severely underfinanced. For example, last month the head of the National Park Service's police admitted to reporters that her force faced serious budget and staff shortages, and was promptly suspended.
cont.
http://www.nytimes.com/2004/01/27/opinion/27KRUG.html
Originally posted by alcimedes
[...]
... these numbers aren't written in stone, but should serve as a decent warning about really stupid spending trends.
And, even more so - as many have posted here - should serve a warning about the effects of unnecessary and unaffordable tax cuts for the wealthy.