Get Your Blog Up

“This administration is populated by people who’ve spent their careers bashing government. They’re not just small-government conservatives—they’re Grover Norquist, strangle-it-in-the-bathtub conservatives. It’s a cognitive disconnect for them to be able to do something well in an arena that they have so derided and reviled all these years.”

Senator Hillary Clinton

Wednesday, July 13, 2005

Blow that out of tune horn

I've read a few posts elsewhere about the great Bush tax cuts fueling more tax revenue and causing the current shrink in the federal deficit. Which would be fine if it were actually true:
Independent budget experts cautioned that a number of debatable assumptions underpin the White House's deficit projections. The improved budget picture for 2005 is almost all the result of $87 billion in unanticipated tax receipts, much of which may have resulted from one-time events, such as a one-year corporate tax holiday enacted last year.

So the real test will be to see if these reductions continue over a sustained period of time, all the while dealing with Social Security surplus shrinking and almost certain underbudgeting for the wars in Iraq and Afghanistan.