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Ragout
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Friday, September 03, 2004

Bush's Costly Promises


Typical. Bush proposed about $3 trillion in additional spending and tax cuts in his convention speech, and then had the gall to criticize Kerry for proposing to spend $2 trillion. "That's a lot, even for a senator from Massachusetts," Bush sneered.

Not to mention that Bush is lying when he says Kerry has proposed $2 trillion in new spending. It's closer to $1 trillion in spending and $1 trillion in middle-income tax cuts. And unlike Bush, Kerry has proposed offsetting a lot of the $2 trillion with higher taxes on the rich and corporations.

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Bush's $3 trillion in new spending and tax cuts:
* Partial privatization of Social Security: at least $1 trillion to pay the transition costs.

* Health tax credits: $120 billion

* Energy tax credits: $175 billion

* "Making tax relief permanent:" $1 trillion, or $1.6 trillion if this includes AMT relief and corporate tax breaks Bush has already endorsed.

* Education, job training, and enrolling more children in federal health programs: This is new, so I don't have a figure, but I'm betting somewhere around zero.
Note: All figures are over 10 years.
Source: Washington Post and discussion in Ragout.

 
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