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Saturday, September 10, 2005

And If You Believe That...

Treasury Secretary John Snow says spending will be higher in 2006 due to Hurricane Katrina, House Majority Leader Tom DeLay says taxes will be cut, and the claim is the deficit will fall.  Even allowing for fuzzy math, something does not add up:

Snow sees US cutting budget gap despite hurricane, Reuters:  The White House can reach its goal of cutting the U.S. budget deficit despite rising costs of rebuilding areas of the Gulf Coast crushed by Hurricane Katrina, Cabinet officials said on Friday as they toured the region. "While this will elevate spending levels for '06 ... we're going to stay on track with the president's deficit-reduction program," U.S. Treasury Secretary John Snow told reporters in Houston ... "You can't attack the economy by taxing the people that are in this tent providing jobs," DeLay, a Texas Republican, told reporters ... "If you raise the taxes on these people, you might not have the jobs to provide, so the tax cuts are incredibly important," DeLay said.

    Posted by on Saturday, September 10, 2005 at 02:34 AM in Budget Deficit, Economics, Politics, Taxes | Permalink  TrackBack (0)  Comments (4)

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