:: blame the extended gestation.... ::

:: Tuesday, October 21, 2003 ::

The New York Review of Books: The Awful Truth

Krugman has been knocking my socks off every week... his writing is witty and his facts make you want to cry. This review is good too...


"The relentless push for cutting the taxes of the well-to-do seems to Krugman to illustrate Bush's 'revolutionary' determination to push a principle to its ultimate conclusion over all sensible opposition. The tax cut was concocted in 1999 when the Clinton budget was running a large surplus, and it was sold in the 2000 campaign as a way to reduce an excessive surplus: money would be given back to the middle class. When the economy faltered and the surplus shrank, the reason for the tax cut had to be adjusted, and it was sold as a short-term stimulant for the economy. Then, as the economy continued to stagnate, it was promoted as essential to long-term growth and job creation. Nor did the start of the war on terror and a record-setting rise in the deficit dampen White House enthusiasm for it."

:: Jim Nichols 10/21/2003 10:42:00 PM [+] ::
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