Washington Post: House Approves Bush’s $726 Billion Tax Cut. Rep. John M. Spratt Jr. (S.C.), the Budget Committee’s ranking Democrat, said President Bush’s tax cut plan was imperiling programs such as Medicare. “This is self-inflicted pain,” he said of the potential impact of the cuts.
At least there’s likely to be some common sense in the Senate, where several Republicans are moderate enough to realize that this irresponsible fiscal policy endangers the health of our nation rather than helps it.
Notice that the Republicans and the Bush people utterly refuse even to guess at the cost of the war even as they push these tax cuts for the rich. They won’t do any short-term stimulus, which is what we really need, meanwhile.
I predict Bush will get most of what he wants. The Democrats are too cowed, and since the war is likely to give the administration a huge near-term boost, get ready for even more serious economic trouble before long.