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August 17, 2003

Read His Lips

Read His Lips

Opinion of the New York Times

After presiding over a two-year binge of tax cuts, a rocketing federal deficit and job losses that recall the Herbert Hoover era, President Bush appears ready to step away from the supply-side gaming table, at least for a while. Mr. Bush announced Wednesday that he sensed enough of an economic upturn to reject any immediate plans for yet another tax cut. He estimates that the effects of two years of giddy revenue-slashing — geared heavily toward the wealthiest Americans — are looking "robust enough" to hold off on more cuts.

We accept the respite as an act of fiscal mercy rather than a cause for economic celebration. The Republicans' chokehold on the nation's revenue flow is doing far more to create debt and deficits than to create jobs, but it is a relief to know that Mr. Bush is not planning to do any more major damage in the immediate future.

Full story

NYTimes original

Read It Rating: 9
Left/Right Rating: L1.5
Freedom Rating: -1
Learning Percentage: 20%

Posted by Lance Brown at August 17, 2003 01:36 AM | TrackBack
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