From a Star Tribune editorial, 6/8/04:
http://www.startribune.com/stories/561/4816729.html
Winners, losers/Who pays for Bush tax cuts?
Since his first days as a presidential candidate, George W. Bush has
been remarkably cavalier about how to pay for his massive program of
tax cuts.
In early 2000 he said federal surpluses would suffice to pay for new
spending and huge tax reductions, a prediction that proved to be wrong
just one year later.
Last year, his cabinet secretaries toured the nation promising that
the economy would grow its way out of deficits.
But today not even the White House forecasts show any such thing.
This year Bush pledged to cut the federal deficit in half by 2009 --
omitting the fact that budget deficits would start growing again the
very next year.
Now reality is sinking in, and it's ugly.
In a major scoop last month, the Washington Post reported that the
White House has circulated a memo ordering all federal agencies to
prepare substantial budget cuts for fiscal year 2006.
The Department of Veterans Affairs would lose the entire increase it's
getting this year, and more, leaving it with less money than it had
last year.
The Education Department would lose almost every penny of this year's
increase to pay for No Child Left Behind.
The National Institutes of Health, a Bush priority, would get less
money in 2006 than in 2005.
Funding for Head Start and infant nutrition also would take major
hits.
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SURPRISE!
Harry
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