Is Bush deliberately causing a fiscal meltdown?
From a L.A. Times Op-ed by Ronald Brownstein
“Is George W. Bush deliberately trying to run up the federal deficit with the new tax cuts he signed into law last week?
That allegation is beginning to bubble up throughout Washington. Among critics, the theory is that Bush privately welcomes the record deficits â€” up to $500 billion a year â€” projected in the tax cut’s wake. The reason: The shortfalls could make it tougher for Democrats to advance new spending initiatives and create a climate more conducive to Bush’s calls for restructuring Social Security and Medicare.
The Financial Times of London started this ripple when it wrote recently that the most conservative Republicans would welcome a “fiscal crisis” that provides a justification for cutting spending.”
The Financial Times of London has major cred, and it is stomach-turning to understand that the thugs in the White House want a financial train wreck as a pretext for cutting social spending.