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Wednesday, September 15, 2004

Tomorrow's Front Page Today!

Ragout, 3 hours after Bush's speech at the Republican Convention: "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."

Washington Post, 11 days after Bush's speech at the Republican Convention (Mike Allen): "The expansive agenda President Bush laid out at the Republican National Convention was missing a price tag, but administration figures show the total is likely to be well in excess of $3 trillion over a decade."

Not only was Ragout first, but our analysis came with a generous helping of sarcasm sorely lacking in the Post's article.

But never let it be said that the Washington Post wasted 10 days and 21 hours without adding any value to the story. Here at Ragout, we conservatively estimated the transition costs of partially privatizing Social Security as "at least $1 trillion." The Post reports that it's closer to $2 trillion. Ragout estimated the cost of Bush's tax cuts as $1.0 to 1.6 trillion, the Post puts them at closer to $2 trillion. So Bush's agenda of tax cuts for the rich and decreased security for seniors is going to cost about $4 trillion, without even considering smaller items like his new tax giveaways for the oil industry.


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