Friday, April 11, 2003

Here We Go Again
Back to record deficits, all presided over by a President with the same name as the last record breaker. House and Senate negotiators agreed, and the House has approved, a budget framework that would inlcude $550 billion in tax cuts and record budget deficits. Of course, the dimwitted GOP claims the elimination of the dividend tax and speeding up of other income tax cuts will spur the economy. Despite the fact that the CBO has done their little dynamic scoring game and found this not to be true. But who needs the analysis of real economists?
I can remember a time when the GOP was the fiscally conservative party, when they would chastise the Democrats for running up massive deficits and mismanaging the people's treasury. But after eight years of Democratic budget balancing, the old adages seem to no longer hold true. Now, I am not so naive as to believe that if the deficits were driven by massive increases in social spending that my party's leaders would be so exercised. In fact, there are many in my party who still worship at the altar of big government and are hypocritical for criticizing these deficits from a fiscal prudence standpoint.
But it's the American people who are the victims in this whole game. Held hostage by one party who wants to give massive tax breaks to the wealthiest and another party who wants the federal government to free base their tax dollars. Somewhere out there is someone who understands this and will hopefully come forward with a credible third party.


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