Okay, here's the scoop.
Background: Bush's plan to cut the deficit in half - which he promoted during the debates, has been verrrry quiet about since, but has never backed down from - was always smoke and mirrors.
Why?
The budget numbers he used were for current budget projections - which 'assumed' that Bush's tax cuts were going to expire on schedule (more smoke and mirrors - pretend that the tax cuts will only last for a few years so you minimize the 'cost' of the cuts).
The reality was: Bush always intended to extend those cuts. With the cuts extended, revenues won't make the projections, and the projected deficit reduction doesn't happen.
NOW... the House and Senate have in fact passed the bill to extend some of those tax cuts and piled on almost a hundred billion of porkish additional benefits for biz, tobacco farmers et al. I recall the total number being $134 billion. So.... how does that affect Bush's deficit reduction plan?
Can anyone out there run the numbers? I'd be very interested in seeing the results - and I suspect the Kerry campaign might, as well....
Why?
The budget numbers he used were for current budget projections - which 'assumed' that Bush's tax cuts were going to expire on schedule (more smoke and mirrors - pretend that the tax cuts will only last for a few years so you minimize the 'cost' of the cuts).
The reality was: Bush always intended to extend those cuts. With the cuts extended, revenues won't make the projections, and the projected deficit reduction doesn't happen.
NOW... the House and Senate have in fact passed the bill to extend some of those tax cuts and piled on almost a hundred billion of porkish additional benefits for biz, tobacco farmers et al. I recall the total number being $134 billion. So.... how does that affect Bush's deficit reduction plan?
Can anyone out there run the numbers? I'd be very interested in seeing the results - and I suspect the Kerry campaign might, as well....