Saturday, February 11, 2006

BushCo Proposes Bamboozlement Division in the Treasury Department

Things are tight all around, but President Sluggo has proposed $513,000 to create a new office in the Treasury Department, to be called the Division of Dynamic Analysis, to come up with arguments why cutting taxes will increase revenues. As the Washington Post reports, we really don't need these supply side geeks, because Dick Cheney already has it figured out:
"It's time to reexamine our assumptions and to consider using more dynamic analysis to measure the true impact of tax cuts on the American economy," Cheney said, explaining why Bush has proposed the new Treasury Department division. "The evidence is in, it's time for everyone to admit that sensible tax cuts increase economic growth and add to the federal treasury."
Actually Mr. Vice President, the evidence is not entirely on your side. This week, the Treasury held its first sale of 30-year bonds since 2001. The long bond, which was rendered obsolete by the budget surpluses created under President Clinton, has been resurrected to finance the deficits created by BushCo's tax cuts.


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