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Saturday, December 20, 2003
The Birth Tax
They're calling it "The Bush Tax", but I prefer "Birth Tax". It's what every new American is going to be born owing thanks to Bush's budget deficits. In only two years, Bush has gone from a $200B+ surplus to a $500B deficit.

But fear not, they say, in hopes you'll believe them. The deficit will be as low as $170B by 2009...if. If no new tax cuts are enacted and spending grows only at the rate of inflation. And if you believe that one, I've got a nice bridge I'd like to talk to you about. Because, you see, they've already blown that out. Neither the Medicare deal nor the $87B for Iraq would be allowed under that scheme. And they're planning on extending tax cuts that are currently scheduled to expire -- again, not allowed. Bush would like to revise the alternative minimum tax to prevent middle income earners from having to pay it -- again, not allowed. And there's the spending contained in the energy bill, already passed but again...aw, you know.

If, along with those items, spending controlled by Congress grows at the average 7.7 percent annual rate seen since 1998, the resulting 2009 deficit would be $666 billion, G. William Hoagland, budget aide to Senate Majority Leader Bill Frist, R-Tenn., warned senators in a recent memo.
Now let's remember that this has happened with a Republican White House and a Republican Congress. So explain to me again why people think the Democrats can't be trusted with the economy?
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