Thursday, August 9, 2007


From today's Washington Post: Bush May Try to Cut Corporate Tax Rates

I don't know why this news surprises me...but I do like Nancy Pelosi's response...

Appearing before cameras at the Treasury Department alongside his economic team, the president vowed to veto spending bills that exceed his targets, and he accused Democrats of plotting the largest tax increase in history to fund an additional $205 billion in discretionary spending over five years.

"Put another way, it's about $1,300 in higher spending every second of every minute of every hour of every day of every year for the next five years," he said. "Now, somebody is going to have to pay for it. And that, of course, will be the hardworking American people. . . . I will use the veto to keep your taxes low and to keep federal spending under control."

Democrats quickly returned fire, noting that Bush inherited a surplus that turned into a deficit and that he never vetoed a spending bill during the six years that Republicans controlled Capitol Hill, even as the budget grew by 50 percent.

"After six years of reckless spending in Washington, President Bush is the last person who should brag about fiscal responsibility," said House Speaker Nancy Pelosi (D-Calif.). She accused the president of misrepresenting Democratic spending plans, which she said come in lower than his and have received some Republican support. And she said Bush wants "to spend $2,800 each second . . . to keep our troops in the middle of a civil war in Iraq."

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