In One Eye

Friday, September 16, 2005
This is pretty much Bush SOP:
President Bush on Friday ruled out raising taxes to pay the massive costs of Gulf Coast reconstruction, saying other government spending must be cut to pay for a recovery effort expected to swell the national debt by $200 billion or more ...

At the White House, the chairman of Bush's National Economic Council, Al Hubbard, made clear that Hurricane Katrina recovery costs are "coming from the American taxpayer." Another top aide, domestic policy adviser Claude Allen, said the administration had not identified any budget cuts to offset the disaster expense, and Bush did not name any either.
No problem: Just write another rubber check. After all, the current administration won't have to pay it off.

And it's noteworthy that the Harvard MBA, while maintaining that "other government spending must be cut to pay for [the] recovery effort," really has no idea where those cuts might occur. Given the tax cuts that are already in place, it really looks as if there's nothing left to cut.

Pundits and others have long said that with the astronomical costs of the Iraq invasion the US simply couldn't afford to get involved on another front. Let there be no mistake: The US is now involved on two fronts, and the truth of the matter is that it really can't afford one.