The Peach

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Wednesday, September 08, 2004

Another Broken Promise -- Deficit Reduction

The non-partisan Congressional Budget Office predicts that if Bush convinces Congress to make his tax cuts permanent, the federal deficit will increase to $500 billion by 2009, rather than being cut in half as Bush has insisted. If we had to guess about whose math is more likely to be correct, we'd have to go with the CBO.

The CBO reached its conclusions even taking into account extremely rosy assumptions about war costs and robust economic growth. Douglas Holtz-Eakin, director of the CBO and former chief economist on Bush's Council of Economic Advisers, was quoted as saying "You cannot grow your way out of this." We worry about Mr. Holz-Eakin -- no doubt he's seen as a turncoat by the Republicans. Can nasty allegations about his military service or his sex life be far behind?

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