Magazine article The New American

Correction, Please!

Magazine article The New American

Correction, Please!

Article excerpt

Spending Trumps Tax Cuts

ITEM: Allan Sloan of Newsweek chided President Bush for using "phallic" imagery by demanding a "robust" tax cut instead of a "little bitty" one. "Call me naive," Sloan wrote in the May 5th issue, "but it seems to me that we should be discussing ideas on their merits, not the relative size of people's, ahem, policies. After all, the stakes are incredibly high for our children and grandchildren, who will be stuck with the tab for these cuts."

CORRECTION: Even when one sets aside the prissy metaphors, Sloan's argument is weak. Taxpayers are not stuck with a tab for money they manage to keep, but for what the government takes from them and spends. Yet there is little serious discussion about cutting spending in the overall sense. Only by cutting spending can the government's burden on the economy be reduced.

Even when Congress makes some tax cuts with one hand, it typically increases spending with the other hand. Yet, as a recent Congressional Budget Office study shows, the way to maximize the positive effects of tax cutting is to restrain the negative effects of federal spending.

Congress continues to do what it does best: spend other people's money. For this fiscal year's first six months, spending on non-defense programs increased by a hefty 5.7 percent over the same period last year.

A Little More Extortion?

ITEM: Thomas Oliphant of the Boston Globe called for a U.S. policy with North Korea reflecting "clarity and consistency" "No serious person," he contended on April 29th, "advocates acceptance of North Korea's latest proposal, which demands a formal guarantee of no U. …

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